A vacancy tax could bring back Hong Kong’s commercial buzz
AdvertisementHong Kong economyOpinionHong Kong OpinionDoug WoodringandDavid KetchumOpinion | A vacancy tax could bring back Hong Kong’s commercial buzzThe city’s magic comes from its energy and speed, not empty units. A gentle policy nudge could boost vibrancy and long-term asset values
Reading Time:3 minutesWhy you can trust SCMPDoug WoodringandDavid KetchumPublished: 9:30am, 28 Nov 2025Take a walk through some of Hong Kong’s most iconic streets and you might notice a puzzling sight: prime retail spaces in Causeway Bay, Wan Chai, Tsim Sha Tsui and other areas are papered over with all types of rental advertisements where there used to be a buzz.
Out-of-reach rental prices are often a result of a simple human instinct: the desire to hold out for yesterday’s peak prices. For many property owners, accepting a lower rent can feel like a step back, potentially affecting bank valuations or reputations that have been built over the years. However, accepting a slightly lower rent today may no..
