Published:
Photo from Freepik
HK sees negative net absorption in Q3 after 4 positive quarters
Net absorption fell to -0.02 million square meters.
Demand for offices in Hong Kong softened in Q3, with net absorption falling to -0.02 million square meters.
According to Colliers, Q3 marked the first period of negative net absorption after four consecutive positive quarters.
Apart from net absorption, rentals also fell in Q3, dropping 2.9% QoQ and 6.3% YoY. With lower rentals, the vacancy rate rose to 16.9%.
According to Colliers, Hong Kong’s vacancy levels will likely rise as over 0.3 million square meters of new office space come online in 2025.
Meanwhile, Colliers expects rental rates to decline throughout the year.
Read Here
Advertise
Sign Up
