Q3 2020 Hong Kong Market

Hong Kong Office Market Review – Q3, 2020

Q3 saw the Grade A office market continue to combat the uncertainty arising from the Covid-19 Pandemic, albeit with little success. More stringent rulings on visitor arrivals and prolonged social distance measures sustained the “Work From Home” environment. Office momentum has stagnated with the net absorption rate sitting at -673,500 sq. ft. bringing the cumulative negative absorption in the first three quarters to -1.7 million sq. ft.; the worst January to September figure on record.

 

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