Grade A office market records the ninth consecutive month of positive net absorption

HONG KONG, 22 January 2026 – Hong Kong's Grade A office leasing market recorded positive net absorption of 537,000 sq ft in December, marking the ninth consecutive month of expansion, according to JLL's latest Hong Kong Monthly Market Dynamics released today.

Alex Barnes, Managing Director of JLL in Hong Kong, Macau and Taiwan, said: "This sustained momentum is a clear sign of a gradual recovery in Hong Kong's office market. Leasing activity remains steady, and enquiry levels in January have stayed robust. Top‑tier office buildings in Central are particularly active, and we expect other premium buildings in the district to benefit from spillover demand in the second half of the year, as a number of prime towers are now close to full occupancy."

Among notable transactions, The Marketing Store Worldwide (Asia) leased an entire low-zone floor at K11 ATELIER King's Road in Quarry Bay, totalling 20,400 sq ft (GFA).  

Cathie Chung, Senior Director of Research at JLL, added: "The overall office vacancy rate edged up to 14.1% at end-December, reflecting the continued abundance of available space in the entire market. Central, Tsimshatsui and Hong Kong East each recorded a modest m-o-m increase of 0.1 ppt. For full-year 2025, vacancy in Central and Tsimshatsui tightened by 0.6 ppt and 1.7 ppt y-o-y, respectively."

In December, overall office rents rose 0.4% on a m-o-m basis, continuing the upward momentum observed in November. Central recorded a 0.6% m-o-m marginal increase in rents, while Wanchai/Causeway Bay saw a modest rebound of 0.4%.

Source: JLL Research