CBRE said the vacancy rate for commercial office space in 17 major cities rose to 21.5% in 3Q19, a level not seen since the global economy was melting down in 2008.
Catherine Chen, Cushman & Wakefield's head of research for Greater China, told Financial Times that soaring commercial office vacancies in China was mainly due to dwindling demand, but not oversupplied conditions.
https://www.zerohedge.com/economics/office-vacancies-china-hit-decade-high-amid-economic-turmoil