JLL: Hong Kong's Grade A office leasing market recorded a positive net absorption of 314,000 square feet in August.

According to the Zhtng Cijng APP, JLL released a report today (September 24th) stating that thanks to the active new stock market and the continuous growth of wealth management demand, Hong Kong's overall Grade A office leasing market recorded a positive net absorption of 314,000 square feet in August. By the end of August, the overall office vacancy rate only slightly increased to 13.5%, as the strong net absorption of existing properties largely offset the impact of new supply from the Causeway Bay Island 1 Center. The vacancy rate in Central improved to 11.2%, while the vacancy rate in Tsim Sha Tsui dropped to 7.6%; in comparison, the vacancy rate in Wan Chai/Causeway Bay rose from 9.6% to 12.2%.