HK Employees Seek Pay Hike Before Return to Office

Bloomberg Intelligence came up with this survey has found that firms in Hong Kong, they actually need to offer salary hikes to get workers back to the office. Our senior analyst, Patrick Wong, joins us now. Yeah, it's interesting. I don't know if anyone's interested in doing that right now, but what were some of the key findings here? Yeah, we did a survey over the past two years and this one I think is getting more interesting results because we looked at for lots of the responders, they are getting more and more saying that the festivity is very important. There's 35% of them saying that they lead the salary hike right by 6% or even more, right, potentially to see how it goes. That's basically I think that the the key is that they they want to be like if the employer asked them to work in the office five days a week, they lead salary high. So it is very interesting findings because we we see that's also have an impact on the office market definitely. Well, how are the the other emerging trends affecting then? This is one of the factors that's affecting office occupancy. For example, what what are the other key findings you've figured out here? Another thing is that we also observe that they of those office workers loud days, they also transfer the flexibility and also about the commute time. So that's very important because yes, in Hong Kong it's relatively convenient versus convenient versus of Paris. Yeah, they're still completing the results of that survey. I'm going to write a polite, I'm kidding, yeah, but but yes, go ahead. Sorry. Yeah. So it's over half of the respondents saying that the transportation cost and also the commute time are very important, also making them a bit challenging to back to office. Yeah, very interesting funding. I mean, talk to people in New York, talk people in LA, talk people in London and they'll tell you, yeah, what you got in Hong Kong is, is nothing, nothing. OK, in terms of what the office landlords and their and their standing where they're all in this. Are there particular ones that you think could benefit from this? I think this also means that for lots of landlords, if they have the office really atop the MTR stations will benefit. So look at like Sun Hong Kai, they have the West Kowloon, the office upcoming UPS will be the entertainment in West Kowloon. So that will change a lot. Like we just mentioned about IFC, right, there is also very convenience, but we also see upcoming the Potenzo is West Kowloon. So that is also for San Hong Kai. They have a really make a boss project there, so we also benefit. So it matters if the building is actually right by the right. The the has to be on top. Yeah. Don't you want to take a walk? No. And you know, that takes us back to really our building right here. We're in between. What I don't like though, is you know how they tell you sometimes it's right by the MTR exit, but then the train is a few 100 miles. You can walk inside the station. Yeah, you're just walking inside. Yeah, that's anyways at least you're indoors. Yes, with air con, right. Or again, we're it's relatively, we're complaining. It's it's it's hella gear if you think about it, right. Everything is super, super convenient. I think the take away from from Patrick is those UBS guys. You better go to work. No excuses now. No, no, you're your own building. And apparently the we were speaking with the boss of the APAC CEO, right. Yeah. And he said there's they still want that pool. Oh, yeah. At the very top of the building. Yeah. Right. So more incentives to go to work. What is not to like that trick? Thank you.