• Improving global trading activity and a low base of comparison ensured Hong Kong’s aggregate trade registered record high growth for the first two months of 2021.
     
  • Overall leasing momentum remained soft despite a rebound in trading activity. Most leasing activity involving 3PLs was driven by cost saving.
     
  • Resilient demand for high value products spurred leasing activity, while the public sector also displayed some demand.
     
  • Warehouse vacancy fell to its lowest level since Q4 2019.