戴德梁行：料香港2025年整体写字楼租金将跌约7-9%

Group 1 - The core viewpoint of the reports indicates that the Grade A office market in Greater China remains full of opportunities for tenants, with vacancy rates and rents expected to stay at favorable levels as the economy gradually recovers [1] - By the second quarter of 2025, the total stock of Grade A office space in 20 major cities in Greater China is projected to reach approximately 72.13 million square meters, with a net absorption of about 764,000 square meters in the first half of 2025, representing a year-on-year increase of 5.5% [1] - In major cities, Taipei's core area is expected to have a low vacancy rate of around 7.9% by the second quarter of 2025, while in second-tier cities, Qingdao is projected to have the lowest vacancy rate at 24.7% [1] Group 2 - The anticipated new supply of office space in Hong Kong for the first half of 2024-2025 is over 194,000 square meters, with the core and non-core areas each accounting for half [2] - The average new leasing area recorded in the first half of 2024-2025 is approximately 84,900 square meters per quarter, which is 19% higher than the average from 2020-2023 [2] - Despite signs of recovery in Hong Kong's IPO market, the substantial future supply and high vacancy rates may exert pressure on rental performance, with an expected overall decline in office rents of about 7-9% for the entire year of 2025 [2]