Download PDF

• The Grade 'A' office leasing market continued its uptrend in the second quarter of 2010, albeit at a slower pace
• Financial institutions are competing for what little space remains in prime buildings as availability in 'AAA' stock is limited and vacancy now stands at only 1.1 per cent
• PRC firms have expanded aggressively in Central over the past two quarters but leasing activity during the coming quarter is expected to slow
• Vacancy rates in Wanchai/Causeway Bay stood at 4.8 per cent with rents up by 4.3 per cent over the quarter. Despite the tight leasing market, however, many tenants are reluctant to relocate to non-core locations
• Landlords in Kowloon East and the Western Corridor are now very bullish on the leasing market and are raising their asking rents
• We expect take up to slow over the second half of the year as some financial institutions now have sufficient space to meet current needs and landlords adopt a more aggressive stance in negotiations

Download PDF

Contact Information
Chris Marriott
+852 2842 4401
cjmarriott@savills.com.hk

Simon Smith
+852 2842 4573
ssmith@savills.com.hk

Note
If you are experiencing difficulty downloading this report, click here for help