JLL: As of the end of January, the overall office vacancy rate in Hong Kong has decreased to 13.5%.

Jones Lang LaSalle (JLL) stated in its "Hong Kong Property Market Watch" report that the leasing demand from the financial industry remains strong, driving the vacancy rate in Central to its lowest level since 2023. The vacancy rate for Grade A office space in Central has gradually improved, falling from a peak of 12.2% in September 2024 to 10.1% by the end of January, a decrease of 0.8 percentage points. The overall leasing rate for office space continues to improve. As of the end of January, the overall vacancy rate for office space in Hong Kong has decreased to 13.5%; vacancy rates in Wan Chai/Causeway Bay and Tsim Sha Tsui have also decreased by 0.5 percentage points respectively. Sam Gourlay, Head of JLL's Hong Kong Commercial Department, said, "The market is seeing a return of leasing demand in core locations, mainly driven by financial institutions. The vacancy rates of prime Grade A offices in Central have significantly improved and demand spillover into non-traditional core business districts is expected to gradually occur, benefiting the overall Grade A office market." In January, the Grade A office leasing market in Hong Kong recorded a net absorption of 589,700 square feet. Notable transactions include Turiya Capital relocating from Hing Yip Building and leasing a lower-level unit at The Henderson in Central, with a total area of 5,700 square feet. Cheryl Cheung, Senior Director of Research at Jones Lang LaSalle (JLL), stated, "The overall office rental market in Hong Kong saw a 0.3% increase month-on-month, marking the fourth consecutive month of growth. This increase was mainly driven by Central, where rents rose by 1.2% month-on-month, while other districts recorded slight declines."