Why Tenants Use Us| Our Clients| Co-Working Space| Refer & Earn| Office District Guide
Back
|

Latest Market Research

Office Market Review

September 2020


It is not all doom and gloom, and office leasing opportunities abound in Hong Kong.

Amidst the challenge of Covid-19, the political uncertainty for the territory and a weak leasing market, there are still a few silver linings around.

To get the whole story and the latest office rental rates

Download PDF


Hong Kong Office Market Update Sep 2020

Hong Kong
Office Market Update
September 2020

Click to download
PDF 1.8mb

Market Research Archive
  • Falling rents – overall rents are down by 11% from their peak in Q2 2019. We predict a further fall for the full year of 2020 of around 18 - 20% in the prime CBD area (Central/Admiralty) and 14% overall. Thus, offices will continue to become more affordable.

  • The CBD office vacancy rate has increased to around 6%, which means a much wider choice of stock for tenants to pick from.

  • Much has been written about competition from other regional financial centers, such as Singapore, but Hong Kong will still remain the gateway to China.

  • Landlords have become far more flexible in an endeavor to retain tenants and secure new ones – hence more room to negotiate on the rates, rent free periods and more flexible lease terms.

  • It is also simpler to set up a business in Hong Kong than say Singapore, where foreign firms need to team up with a local partner.

  • Demand will continue to be led by sectors such as finance, insurance, banking and business services, especially for mainland China.

  • Closer integration of the Greater Bay Area with its many incentives will help strengthen Hong Kong's competitiveness.