Hong Kong Office & Retail Leasing Markets Q1 2020 08 April 2020
Hong Kong Office Market Overview
1. Rental declines accelerated; core areas the hardest hit 2. Demand in Q1 shrinks by most in 18 years; absorption to remain negative over the near-term 3. Availability climbed to 10-year high; to stay in double-digits in 2020 4. Weak leasing demand to continue; cost constraints to limit relocations 5. Core area rental decline to accelerate; Greater Central rents in 2020 to retreat the most since GFC
