The vacancy rates of Grade A offices in Central increased to 12.1%, at the end of June, mainly driven by new office supply, according to JLL’s latest Hong Kong Property Market Monitor released today.
During the same period, the overall vacancy rate of Grade A offices increased to 13.6%. In contrast, the vacancy rates in Tsimshatsui and Kowloon East decreased by 0.4 and 0.2 percentage points, respectively, due to diminishing available office space for lease. Notably, the overall market recorded a negative net absorption of 53,700 sq ft last month.
Alex Barnes, Managing Director and Head of…
