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Grade A vacancy rate drops to 13.6% in May
Four of the five major business districts saw declines in vacancy rates.
Grade A office vacancy rates dropped 0.1 percentage point to 13.6% in May from April.
JLL’s latest Hong Kong Monthly Market Dynamics reported that four out of five major business districts saw declines in vacancy rates.
Vacancy rates in Central, Tsim Sha Tsui, Wan Chai/Causeway Bay, and Kowloon East fell to 11.6%, 7.8%, 9.0%, and 20.9%, respectively.
Hong Kong East, on the other hand, saw its vacancy rate rise to 14.2%.
As vacancy rates improved, the leasing market posted a positive net absorption of 192,000 sq. ft. in May.
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