Report | Future Cities
The Evolution of the Hong Kong Grade A Office Market - A Telescopic Analysis 2022
September 14, 2022
Hong Kong’s economy has faced unprecedented challenges over the past three years including sociopolitical unrest in 2019 followed by the onset of the COVID-19 pandemic in 2020.
This has led to a significant contraction in demand for Grade A office space, with vacancy rising to record highs and rents falling by nearly 30% since mid-2019.
To understand how the Grade A office market evolved between 2019 and 2022, this report explores the changes in occupancy that have occurred within the 83 million sq. ft. of Grade A office space in 253 buildings across the city.
In addition to analysing the current state of the Grade A office market, the report also identifies emerging trends that are set to become more prominent over the next three years.