![Vacant Bar in Lan Kwai Fong, Hong Kong, in July 2021](https://christopherdillon.com/wp-content/uploads/2022/12/2021-07-01-HK-Island-030_01.jpg)
I spent the July 1, 2021, public holiday walking around Hong Kong Island, and was struck by the volume of vacant and distressed commercial real estate.
Over the past two years, Covid-19 and political unrest slashed tourist arrivals and sledgehammered Hong Kong’s food and beverage sector.
Social distancing regulations and the absence of wealthy mainland visitors changed the nature of commercial real estate in Lan Kwai Fong, Central and Wanchai. Causeway Bay, which once had the most expensive commercial real estate in the world, has also been badly affected.
![Vacant Bar in Lan Kwai Fong, Hong Kong, in July 2021Hong Kong, in July 2021](https://christopherdillon.com/wp-content/uploads/2022/12/2021-07-01-HK-Island-021_01.jpg)
![Closed restaurants in an alley near Lan Kwai Fong, Hong Kong, in July 2021](https://christopherdillon.com/wp-content/uploads/2022/12/2021-07-01-HK-Island-017_01.jpg)
![7-Eleven store in Lan Kwai Fong, Hong Kong, in July 2021](https://christopherdillon.com/wp-content/uploads/2022/12/2021-07-01-HK-Island-020_01.jpg)
![A mid-market steakhouse in Central, Hong Kong, in July 2021](https://christopherdillon.com/wp-content/uploads/2021/07/2021-07-01-HK-Island-061.jpg)
![Vacant storefront in Central, Hong Kong, in July 2021](https://christopherdillon.com/wp-content/uploads/2022/12/2021-07-01-HK-Island-011_01.jpg)
![There are many vacancies in offices and other commercial real estate in Central, Hong Kong](https://christopherdillon.com/wp-content/uploads/2022/12/2021-07-01-HK-Island-053_01.jpg)
![Discount retailers in Causeway Bay, Hong Kong, in July 2021](https://christopherdillon.com/wp-content/uploads/2022/12/2021-07-01-HK-Island-095_01.jpg)
![Graffiti-covered bar in Wanchai, Hong Kong, in July 2021](https://christopherdillon.com/wp-content/uploads/2022/12/2021-07-01-HK-Island-135.jpg)
![Budget clothing stores in Central, Hong Kong, in July 2021](https://christopherdillon.com/wp-content/uploads/2022/12/2021-07-01-HK-Island-004_01.jpg)
Click here for more articles about property in Hong Kong.
Christopher Dillon has owned residential, industrial and commercial real estate in Hong Kong and Japan, and is the author of the Landed series of property books. The second edition of Landed Hong Kong is available from Amazon.
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