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Central Hong Kong Office Vacancy Hits Record Low

3/20/2026

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Summary

Story summary

Prime office vacancy rate in Hong Kong's Central business district fell to 9.9% in February 2026, the first single-digit rate in 26 months.
This decline contributed to a 3.5% rise in grade A rents in the first two months of 2026.
Alex Barnes, Jones Lang LaSalle (JLL)'s managing director, said the banking sector drives leasing, with demand focused on core-district offices, while Kowloon East faces challenges.

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Story summary

Prime office vacancy rate in Hong Kong's Central business district fell to 9.9% in February 2026, the first single-digit rate in 26 months.
This decline contributed to a 3.5% rise in grade A rents in the first two months of 2026.
Alex Barnes, Jones Lang LaSalle (JLL)'s managing director, said the banking sector drives leasing, with demand focused on core-district offices, while Kowloon East faces challenges.