Core Insights - The report by JLL indicates a slight month-on-month increase of 0.1% in Central Grade A office rents, marking the first recorded growth since May 2022 [1] - Improved vacancy rates in premium Grade A offices support landlords in rental negotiations, with overall vacancy rates decreasing to 13.1% by the end of October [1] - Significant transactions include the relocation of the Mico Group from Causeway Bay to Central, occupying approximately 10,201 square feet for expansion [1] Market Trends - The vacancy rates in Wanchai/Causeway Bay and Tsim Sha Tsui have significantly improved, dropping to 10.5% and 7.5% respectively, while Central's vacancy rate slightly increased by 0.5 percentage points to 11.5% [1] - The Grade A office market recorded a positive net absorption of 293,300 square feet in October, driven by tenants actively engaging in consolidation and upgrading activities in a favorable market environment [2] - Overall office rents remained relatively stable month-on-month, although there are divergent trends across different sub-markets [2]

Core Insights - The report by CBRE indicates an improvement in leasing activity for Grade A office spaces in Hong Kong during Q3, with a quarterly increase of 25% to 1.3 million square feet [1] - Year-to-date leasing volume reached 3.2 million square feet, reflecting a year-on-year decrease of 12% [1] - The net absorption of Grade A office space in Hong Kong reached 691,800 square feet, the highest since Q3 2018 [1] - The overall vacancy rate for Grade A offices decreased by 0.3 percentage points to 17.1%, marking the largest quarterly decline since Q3 2018 [1] - Overall rental rates for Grade A offices fell by 0.7% quarter-on-quarter, with a year-to-date decline of 34% [1] Retail Market Insights - In Q3, retail leasing activity increased due to a faster growth in retail sales value, with leasing volume rising compared to the previous quarter [1] - The number of tourists in July and August saw a strong year-on-year increase of 13.9%, contributing to a 2.8% year-on-year growth in total retail sales for the two months, the fastest increase since Q4 2023 [1] - Most retail leasing activities occurred in non-prime streets, with the vacancy rate rising by 0.9 percentage points to 8%, while the vacancy rate in Central slightly decreased [1] - Rental rates for retail spaces saw a slight quarterly increase of 0.5%, bringing the year-to-date increase to 2.4% [1]

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]

Core Insights - The report from Knight Frank indicates that the Beijing Grade A office market showed signs of recovery in Q2 2025, with a net absorption of 12,960 square meters, reversing the negative absorption trend from the previous quarter [1][2] - The average vacancy rate in Beijing's Grade A office market decreased slightly to 18.4%, a 0.2 percentage point drop from the previous quarter, stabilizing at the same level as Q4 2024 [2][5] - Average rental prices for Grade A offices fell by 1.6% to RMB 233.1 per square meter per month, with the decline rate narrowing compared to previous quarters [1][5] Market Supply and Demand - There was limited new supply in the first half of the year, with only one new project completed, and no new projects expected to be delivered in the second half of 2025 [2][7] - The high-tech sector dominated leasing transactions, accounting for 34% of the total leased area, with significant contributions from companies like ByteDance [5][6] - Financial and professional services sectors followed, contributing 22% and 16% respectively to the leasing area [5] Rental Trends - The highest rental rates were recorded in the Financial Street area, which saw a 6.1% decrease to RMB 389.2 per square meter per month [6] - The Central Business District (CBD) experienced a rental decline of 2.8% to RMB 255.4 per square meter per month, with a vacancy rate of 15.1% [6] - The Wanjing-Jiuxianqiao area saw a rental rate of RMB 161.2 per square meter per month, reflecting a 0.9% decrease [6] Future Outlook - Knight Frank anticipates a peak in supply in 2026, with an expected 757,000 square meters of new office space, including significant projects in the CBD [7] - The report suggests that market conditions will increasingly favor tenants, with a focus on flexible lease terms and enhanced service offerings from landlords [7]