, Hong Kong
Photo by Pixabay

Office vacancy rates slightly improves in September

Office rents retreated by 1% MoM.

Overall Grade A office leasing market reported a slight improvement with the overall vacancy rate dropping to 12.7% in September, according to JLL’s latest Hong Kong Property Market Monitor.

Three major business districts reported improved vacancy rates. Central’s vacancy rate decreased by 0.3% while Tsimshatsui and Kowloon East vacancy rates dropped by 0.4% and 0.3% respectively. 

“Last month, the overall Grade A office market showed further improvement, with a positive net absorption of 66,100 sq ft. Notably, it is also the first time in two years that Tsimshatsui’s vacancy rate fell below 10% as the supply is tight in this district,” Alex Barnes, Managing Director and Head of Office Leasing Advisory at JLL in Hong Kong said.

Additionally, the MTR Corporation leased around a gross floor area of 135,000 sq ft at One North in Yuen Long to accommodate its business expansion.

"Overall net effective rent retreated by 1.0% m-o-m in September. Among the major office submarkets, Central and Wanchai / Causeway Bay witnessed rental drops of 1.5% and 0.4%, respectively, while Kowloon East’s rent remained flat," Cathie Chung, Senior Director of Research at JLL said.

In August, Grade A Office vacancy rates was at 12.8%.

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!


HK scraps MPF Offsetting Scheme to enhance employee protection
Starting 2025, employers are no longer allowed to offset long service and severance payments from its Mandatory Provident Fund contributions.