Jones Lang LaSalle(US:JLL) news flash·2025-06-18 06:27Core Insights - The report by JLL indicates a continued improvement in Hong Kong's Grade A office market as of May, with the overall vacancy rate decreasing to 13.6% despite new project completions [1] Vacancy Rates - Among the five major commercial districts, four experienced a decline in vacancy rates: - Central: decreased by 0.1 percentage points to 11.6% - Tsim Sha Tsui: decreased by 0.1 percentage points to 7.8% - Kowloon East: decreased by 0.1 percentage points to 20.9% - Wan Chai/Causeway Bay: decreased by 0.2 percentage points to 9% - However, the vacancy rate in Hong Kong East slightly increased by 0.2 percentage points to 14.2% [1] Leasing Market - The leasing market recorded a positive net absorption of 192,000 square feet in May [1] Rental Trends - Office rents continued to decline in May, with an overall monthly decrease of 0.3% - Hong Kong East saw a significant drop of 1% - Kowloon East followed with a decrease of 0.7% - Central and Wan Chai/Causeway Bay experienced declines of 0.4% and 0.2%, respectively [1]