Hong Kong Grade A Office Buildings hit 15% vacancy rate, unlikely to bounce back

“We don’t see any positive drivers in the short term,” said CBRE’s Eddie Kwok. “Prices may fall slowly, but it’s hard to bounce back.”

According to data from Colliers International, the overall vacancy rate of Grade A office buildings in April was close to 15%, three times the level in 2019, exceeding the vacancy rates of 12.5% ​​in Manhattan and 4.6% in Singapore. With global corporate expansion slowing down and mainland companies still considering whether to decide to come to Hong Kong, the absorption rate in the office market will definitely be discounted, Kwok said.

Long fruit（1113）and Henderson（0012）Neither responded to a Bloomberg query.

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