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Colliers Quarterly | Q2 2022 | Office

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Hong Kong Quarterly Q1 2022 OFF 1536x1040

Flight-to-quality remains key to occupiers

As COVID-19 disruptions recede, the office market witnessed a pickup of momentum including an increase in leasing enquiries and inspection activities, yet commitment in leasing deals remained slow in Q2 2022. 

Key highlights 

  • Overall vacancy continued to climb and reached 11.2% in Q2 2022
  • New letting demand from net lettings remained relatively weak, resulting in a net absorption figure of –176,300 sq. ft.
  • Overall Grade A office rents fell by 0.1% in Q2 2022, bringing the YTD drop to 1.5%
  • Decentralisation is favoured by cost-saving tenants

Hong Kong Quarterly Q1 2022 OFF 1024x972

Colliers Quarterly | Q2 2022 | Office

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