Q2 2021 Hong Kong Market Report
Hong Kong Grade A Office Overview
Office Market Review – Q2, 2021
- Pandemic / Economic recovery.
- Corporate downsizing: There is a greater interest in flexible workspaces in Kowloon East, Mong Kok and Tsim Sha Tsui in contrast to the traditional office space in these locations for SME’s.
- PRC firms remain committed to the core CBD market, lettings have risen 4% y-o-y which has resulted in a slight rise in PRC company presence in Grade A Offices.
- Rents, however, continue to decline, by 5% in Q2, albeit at a slower decline from previous quarters.