Outdoors the field | Opinion
Outdoors the field
By Peter Liang
Thursday, July 09, 2020, 15:21
By Peter Liang
The contemporary outbreak of coronavirus pandemic in Hong Kong has raised the query whether or not workplace rental in central and another main business districts, together with Causeway Bay and Tsim Sha Tsui, will proceed to fall as increasingly more corporations are asking their workers to work at home.
Some actual property brokers stated that the pattern could be short-lived due to the small dimension of most houses in Hong Kong making it tough for folks to work effectively within the confined area they should share with different members of their households.
They’re proper. The typical dimension of a Hong Kong house is about 40 sq. meters, a decent area by any commonplace to share between a median household of 4 folks.
However the expertise of sending workers to work at home has proved the worth of recent communications know-how, serving to to persuade many corporations that it’s not essential to have all their workers working beneath one roof. Some employers are anticipated to be inspired to chop value by relocating a big a part of their workforces to places of work in different districts the place rents are a lot decrease whereas preserving solely a token presence in central enterprise district the place rents are among the many highest on the planet.
Certainly, many banks and huge companies have already moved their backroom staffs to the perimeter districts, and even throughout the border in Shenzhen, to avoid wasting value. Working from house is probably not a viable alternative within the long-term merely due to the area confinement. However relocating can work for each the employers and workers.
As an illustration, shifting a big a part of the operation to, say, Kwun Tong is sweet for the workers as a result of all the pieces round there may be cheaper than central. As soon as a dilapidated manufacturing unit district, Kwun Tong has gone by way of an intensive transformation into a brand new enterprise middle of many new workplace buildings at leases which are a lot decrease than these within the conventional enterprise districts.
What’s extra, Kwun Tong is effectively served by the subway and buses. There’s even a ferry connecting it to Hong Kong island throughout the harbor. Many new outlets and eating places have sprung up within the space catering to workplace employees at costs they’ll afford.
Earn a living from home is probably not the reply to escalating rents. However the fallout from the coronavirus outbreak can assist velocity up the method of relocation to areas of cheaper rental.