Core Insights - The report from JLL indicates that Hong Kong's Grade A office leasing market recorded a positive net absorption of 189,500 square feet in July, marking four consecutive months of positive absorption since April [1] - Despite the improvement in vacancy rates, rental prices continue to decline, with a 0.5% month-on-month decrease in overall Grade A office rents in July [1] Rental Trends - The most significant rental decline was observed in East Hong Kong Island, which fell by 2.6%, followed by Kowloon East with a slight decrease of 0.7%, and Central with a minor drop of 0.2% [1] Vacancy Rates - The overall vacancy rate for offices slightly improved, decreasing to 13.4% by the end of July, with most sub-markets experiencing a decline in vacancy rates [1] - East Hong Kong Island and Kowloon East saw their vacancy rates drop to 13.4% and 20.2%, respectively, while the Wanchai/Causeway Bay area recorded negative absorption, leading to an increase in vacancy rate to 9.6% [1]

Core 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]