Core Insights - The report by JLL indicates that Hong Kong's Grade A office leasing market recorded a positive net absorption of 314,000 square feet in August, driven by an active IPO market and growing demand for wealth management services [1] - The overall vacancy rate for office spaces slightly increased to 13.5% by the end of August, primarily due to new supply at One Island East in Causeway Bay, although strong net absorption mitigated this effect [1] - The vacancy rates in Central improved to 11.2% and Tsim Sha Tsui decreased to 7.6%, while the vacancy rate in Wan Chai/Causeway Bay rose from 9.6% to 12.2% [1] Market Demand - Demand for leasing from financial institutions and professional service companies is on the rise, largely fueled by the active IPO market and increasing wealth management needs [1] - Tenants focusing on high-net-worth clients prefer premium office spaces located in core areas, which further supports the leasing performance of landmark office buildings [1] Rental Trends - The recovery in the office leasing market is contributing to a gradual stabilization of rental prices, with a slight month-on-month decline of 0.2% in August, marking the smallest drop this year [1] - In terms of sub-market performance, Eastern Hong Kong Island saw a decrease of 0.6%, followed by Kowloon East with a decline of 0.3%, while Central experienced a minor drop of 0.1% [1]