hong kong grade a office sector
Grade A office rents contract 1.3% QoQ in Q1
The decrease in rents in Island East drove the overall decrease.
Grade A office rents contract 1.3% QoQ in Q1
The decrease in rents in Island East drove the overall decrease.
Negative absorption seen in Grade A office market in January
JLL linked this to the Chinese New Year, traditionally a low season.
Overall office rent declines by 3.7% in 2022: JLL
Vacancy rate in end-December rose due to new completions.
Office demand growth to be 'gradual and moderate': CBRE
Demand will be coming from multinationals and Chinese enterprises.
Over 900 companies downsized Grade A office space from 2019-2022: research
This has resulted in a 3.1% drop in total space office space occupied.
Hong Kong Island to see ‘moderate’ office rental growth in H2
Rents are more affordable compared to pre-pandemic levels.
Grade A office market logs net absorption of 1.25 million sq ft in H122
Leading the market in recovery is the Central segment.
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Commentary
Ginza-style commercial building in neighbourhood areas attracts local consumption