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JLL: Central Grade A Office Vacancy Rate Drops to 10.1% in Jan, Lowest Since 2023
Recommend 24 Positive 30 Negative 17 |
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The vacancy rate for Grade A offices in Central, Hong Kong sank 0.8 ppts MoM to 10.1% by the end of January, receding from the peak of 12.2% in September 2024, marking the trough since 2023, according to a report by JLL. As of the end of January, the overall office vacancy rate fell to 13.5%; among which, the vacancy rates in Wan Chai/ Causeway Bay and Tsim Sha Tsui also dropped 0.5 ppts MoM. Sam Gourlay, Head of Office Leasing Advisory in Hong Kong Island, JLL, stated that the market is witnessing a return of leasing demand to core areas, primarily motivated by financial institutions. The vacancy rates of several top-quality Grade A office buildings in Central remarkably improved or dropped to single digits, and some of the overflow demand gradually penetrated into non-traditional core business districts, which was expected to benefit the overall Grade A office market. AASTOCKS Financial News Website: www.aastocks.com |
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