Overall vacancy rate for Grade A office up slightly 9.4% in June

Vacancy rate in Central rose from 7.6% to 7.9%. 

The overall vacancy rate for the Grade A office market inched up to 9.4% at the end of June, according to JLL’s latest Hong Kong Property Market Monitor.

The vacancy rate in Central went up from 7.6% to 7.9% but it improved to 10.2% in Tsimshatsui.

Meanwhile, the market reported negative net absorption of 96,800 square feet in June after the market experienced positive take-up for eight consecutive months.

Paul Yien, executive director of office leasing advisory at JLL, said it is normal to see take-up rate under pressure whilst the leasing market is still disrupted by the pandemic.

But he noted that some firms seek to expand in core business districts such as the Grade A office rents dropping 28.3% from the market in 2019, which appealed to tenants.

Overall net effective rents of Grade A office space edged down by 0.1% month-on-month in June.

Amongst the major office submarkets, Central’s office rents are still flat, whilst Wanchai and Causeway Bay posted a larger rental fall.

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!