Office market net take-up in 1Q15 jumps to 300,800 sq. ft NFA

The market gains momentum in 1Q15

An improved leasing market sentiment has been noted in Hong Kong's office market in the real estate sector.

According to a research note from CBRE, net take-up for Q1, 2015 increased by 97,300 sq. ft. q-o-q to reach 300,800 sq. ft. NFA.

Further, more financial sector activity with leasing demand from local Chinese banks and insurance companies particularly active.

Meanwhile, overall vacancy edged down from 4.1% to 3.9% q-o-q. Central, Hong Kong East and Kowloon East all saw noticeable drop in vacancy.

Also, greater Central districts led rental growth with core Central up 2%, Admiralty and Sheung Wan up 2.9%.

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