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Office Leasing Hong Kong

October 2021

Report

Autoren: Simon Smith , Ricky Lau

Reihe: Savills Market in Minutes

Anbieter: Savills

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  • Erscheinungsdatum : 07.10.2021
  • Seiten : 3 Seiten
  • Datei-Typ : PDF-Datei
  • Größe : 967,87 kB
  • Sprache(n) : Englisch

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Inhalt

Rental declines continue across the board

  • Grade A rents fell by 1.5% in Q3/2021 compared with a 2.6% decline in Q2/2021.
  • The Central office market has been buffeted by the same headwinds as other markets, but despite this we have seen some selective expansion demand and new leases among Mainland financial institutions as well as new industry tenants.
  • In the uncertain environment, serviced offices are popular, and we note more take-up from large operators in core business districts.
  • Rental declines were milder in Kowloon with vacancy gradually absorbed, particularly in Tsim Sha Tsui and Kowloon East.
  • Vacancy rates continued to climb to 9.3% in Q3 with office buildings in some areas, such as North Point and Kowloon West, suffering more than others.
  • Upcoming supply in prime areas is seeing some early precommitment.

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