Cushman & Wakefield: Grade A office rents across Hong Kong rose over 6% in first three quarters

Cushman & Wakefield said Grade A office rents across Hong Kong had risen 6.1% year-to-date, up 1.7% quarter-on-quarter in the third quarter. Grade A office rents in the Central district rose a further 3.0% quarter-on-quarter in the third quarter, while Hong Kong East and the South Side of Hong Kong Island recorded slight increases. New leasing area for Grade A offices reached 1.4 million sq ft in the third quarter, the highest quarterly level since 2019, while the vacancy rate fell 0.4 percentage points quarter-on-quarter to 19.1%.