Staff Reporter
,
Hong Kong
Photo by Kelly Sze from Pexels
Kowloon saw the most significant improvement in the vacancy rate.
The overall vacancy rate of Grade A offices dropped to 12.6% in October, data from JLL showed.
Amongst the major office districts, Kowloon recorded the most significant improvement, with the vacancy rate dropping to 19.1%.
Tsimshaitsui also recorded a drop in vacancy rate, falling further by 0.4 percentage points, the most significant among the business districts.
Meanwhile, office rent retreated by 0.5% MoM in October. Central and Wanchai/Causeway Bay witnessed rental drops of 0.2% and 1.0%, respectively. Tsimshatsui's rent remained firm.
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