Commercial Office

Central and Kowloon East saw the highest vacancy.

Rents are more affordable compared to pre-pandemic levels.

Cushman & Wakefield linked this to the fifth wave of the pandemic.

Two-thirds of them are planning to increase allocations by more than 10%.

This marks the third month of positive net absorption.

HK costs are the 9th most expensive in the Asia Pacific.

The market recorded a positive net absorption of 327,700 sq.ft in Q3 2021.

It posted RMB2.84b profit in the same period last year. 

The overall net effective rents slipped by 0.2% month-on-month.

The joint venture will operate all 32 existing locations under IWG across the Greater Bay Area.

Those leasing green buildings pay a rental premium of 1% to 7%.

This compared to 9.4% in May as tenants relocated due to improvement in business sentiment.

This is the first time since July 2019, JLL said.

The Grade-A office market saw a net withdrawal of 99,400 sq. ft.