Opinion Network News: On January 19, JLL's "Hong Kong Real Estate Market Watch" report pointed out that the overall Grade A office market recorded 9,100 square feet of positive absorption in December last year, marking the third consecutive month of positive absorption.
The office leasing market turned quiet at the end of last year, but the overall Grade A office market recorded positive absorption for three consecutive months, benefiting from the rising demand for high-quality office buildings from tenants.
At the end of last year, the overall Grade A office vacancy rate stabilized at 9.6%, the Central office vacancy rate rose to 8%, and the Kowloon East office vacancy rate reached 13.3%, the highest among all major sub-markets.
JLL's head of Hong Kong leasing, Yali Bao, said the actual rent of Grade A offices overall rose by 0.2% month-on-month in December last year. With about 5 million square feet of new office buildings to be completed this year, the vacancy rate is expected to rise, but it is expected that the improved business atmosphere will offset the huge new supply problem, and overall office rents can rise by 0% to 5% this year.
In terms of the industrial building market, Wong Chi Fai, head of JLL's Greater China Research Department, pointed out that driven by strong local consumption, the industrial building rental market has recorded several lease transactions from logistics operators, mainly for lease renewal, and there has been a new lease transaction. The investment market in industrial buildings continues to be active.
This article originated from the viewpoint real estate network
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