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Colliers Quarterly | Q1 2022 | Office

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Hong Kong Quarterly Q1 2022 Office 1536x1040

Market recovery delayed

Market uncertainties since the start of 2022, including the outbreak of Omicron, geo-political tensions and stock market volatilities, have disrupted the decision-making process of occupiers, slowing office leasing momentum in Q1.

The market also saw office space demand weaken in Q1, largely due to inspection activities being held up with tightened social-distancing measures from the 5th wave of COVID-19. 

Key highlights

  • Overall net take-up recorded a rebound of 157,000 sq. ft. in Q1
  • Vacancy in the CBD edged up to 9.2%
  • Overall Grade A office rents corrected with a 1.3% QoQ drop
  • Kowloon East remained a popular submarket for cost-saving tenants looking to downsize or relocate

Hong Kong Quarterly Q1 2022 Office 1024x972

Colliers Quarterly | Q1 2022 | Office

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Related Experts

Fiona Ngan

Head of Office Services

Office Services

Hong Kong

Fiona Ngan is the Head of Office Services and she has 26 years in this field and presently focuses on leading the Hong Kong and Kowloon Office team. Her strengths include project leasing and the provision of a board range of client services, particularly in Tenant Representations. She has extensive experience in business development, real estate strategic solutions and a range of consultancy services.

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