Figures
Hong Kong Figures - Office Q1 2026
April 14, 2026 10 Minute Read
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- Gross leasing volume contracted by 21.8% q-o-q to 877,200 sq. ft. in Q1 2026 despite rising 1.6% y-o-y.
- Net absorption reached 375,400 sq. ft., a fourth consecutive positive quarter. Over the past four quarters, total net absorption has totalled 2.7 million sq. ft.
- This quarter’s lack of new supply combined with positive net absorption saw vacancy drop 0.4-ppt. to 16.8%, the biggest decline since Q2 2015.
- Overall rents increased 1.6% q-o-q for their strongest growth since Q3 2018. Growth was mainly driven by Central (5.9% q-o-q) and Greater Tsim Sha Tsui (0.9% q-o-q). Rents in Grade A1 buildings in Central reported their strongest gains since Q3 2010, with rents up by 12.1% q-o-q. Rents in all major decentralised submarkets continued to decline.