Hong Kong Office Vacancy Rates Stabilize

According to JLL's latest Hong Kong Property Market Monitor Report, the overall vacancy rate of Grade A office stayed at 12.8% as at end-August after it increased for four consecutive months since April 2023.

The overall vacancy rate was flat at 12.8% as at end-August. Central saw its vacancy rate rise to 9.9%, while Wanchai / Causeway Bay and Tsimshatsui experienced a drop of 0.6 and 0.7 percentage points in vacancy, respectively.

Among the handful of new lettings, the Hospital Authority leased around 100,000 sq ft (GFA) at Harbourside HQ in Kowloon Bay to relocate from the same district.