Recovering CBD demand with positive take-up in Q2
Leasing activity has picked up in the CBD, with Central and Admiralty leading the way with quarterly net take-up rebounding to +68,300 sq. ft. NFA (6,350m²), the first positive quarter since Q2 2018. PRC firms and financial companies led the charge and chose to relocate following the opportunity to find more affordable lease options.
Insights and recommendations:
- We expect office demand to improve in H2 2021, as the leasing demand from mainland finance occupiers should further pick up
- We recommend occupiers to look for buildings in core locations managed by premium landlords, given the current attractive rentals as flight-for-quality will likely be an emerging trend in H2 2021.
To see what could be for you in the office sector, talk to one of our experts today.