Hong Kong Office Leasing

Housing Investment Consultancy
Office Leasing

August 2018

High quality new builds in decentralized locations are attracting brisk rates of pre-commitment and options for tenants are dwindling rapidly.

Wanchai/Causeway Bay replaced Central as the main driver of rental increases, up by 2.8% over the second quarter of 2018.

Besides PRC demand, new economy firms are also beginning to make their presence felt in core areas.

Grade A office space proved popular among co-working brands who embarked on ambitious expansion plans in Q2/2018.

Falling vacancy Kowloon-side drove the overall vacancy rate down during the quarter.

Major pre-leasing commitments from three tenants in One Hennessy, which is now 60% leased, further reduced availability from new buildings on Hong Kong island.

Kowloon East enjoyed mild rental growth and lower vacancy levels, mainly driven by take-up in high quality and newly developed buildings in Kowloon Bay.

 

Key contacts

Simon Smith

Simon Smith

Senior Director
Research & Consultancy

Two Exchange Square

+852 2842 4573

 

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