Thought the U.S. Office Market Was Bad? Try China

  • 📰 WSJ
  • ⏱ Reading Time:
  • 1 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 4%
  • Publisher: 63%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

China is facing a more basic real-estate problem than the U.S.’s shift toward hybrid work: Developers simply built too much supply, and now the economy is too weak to absorb it.

World’s No. 2 economy has a huge oversupply of unneeded office space, in latest sign of country’s weak growth Nearly 24% of office-tower space in 18 major Chinese cities, including Beijing, was unoccupied as of June.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Housing market: Home sellers taking losses while being called back to the officeThe onset of COVID-19 gave rise to remote work and a housing rush in the West. Those who bought homes thinking their situation would be permanent are now rethinking it.
Source: KSLcom - 🏆 549. / 51 Read more »

| Another Day, Another Huge Off-Market Sale for Aspen’s High-End Home MarketInterior designer Holly Hunt has sold her roughly 13,000-square-foot home about a mile from city limits for $70 million.
Source: WSJ - 🏆 98. / 63 Read more »

No escaping China's property market concernsChinese stocks in Hong Kong started the week on a lower note, with ongoing concerns about the property sector overshadowing optimism stemming from sig
Source: FXStreetNews - 🏆 14. / 72 Read more »

China's Huawei set to re-enter mid-range 5G phone market -report By ReutersChina's Huawei set to re-enter mid-range 5G phone market -report
Source: Investingcom - 🏆 450. / 53 Read more »