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.
Contacts
Ada Fung, LLB MRICS MRTPI
Executive Director, Head of Advisory & Transaction Services - Office Services, Hong Kong
