Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
Cushman & Wakefield Keeps Forecast of Up to 9% Drop in HK Office Rents This Yr
Recommend 21 Positive 42 Negative 28 |
||||
|
||||
|
The overall office vacancy rate in Hong Kong remained sturdy in 2Q25, lately logged at 19.3%, John Siu, Managing Director at Cushman & Wakefield (C&W), stated. However, the net absorption halved QoQ to 71,400 sq.ft.. Meanwhile, the substantial potential supply continued to suppress rents, with overall rents dropping by another 1% in 2Q25, bringing the total drop in 1H25 to 3.4%. In 1H25, the Hong Kong Stock Exchange regained the top position globally in IPO fundraising, Siu mentioned. With more mainland Chinese companies listing in Hong Kong, it is envisioned to further boost office market sentiment and drive leasing demand in related sectors such as banking, finance, and professional services. Despite the improved market sentiment, the tremendous future supply and high vacancy rate may continue to pressure rent performance in the coming quarters, Siu said. After the new supply is completed by the end of the year, the vacancy rate may rise to 21-22%. C&W maintained its forecast that overall office rents in Hong Kong will decline by about 7-9% for the year. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
