24/5/2018-10

The rent of Xiamen-Hashan increases more than 1% a month and the fastest in two years

Jones Lang LaSalle issued the latest “Hong Kong Real Estate Market Watch” report, which pointed out that overall office rents rose by 1.1% month-on-month in April, far higher than the 0.2% monthly increase in March. This was mainly due to the low office vacancy rate and leasing transactions. The buoyancy has driven Hong Kong’s overall office rents to record the fastest increase in two years since April.

According to the report, rental demand in April was mainly concentrated in Hong Kong Island East and Kowloon East. Rents in the two sub-regions rose by 3.1% and 1.2% respectively month-to-month. The largest rental case in the month was DBS Bank rented TWO HARBOURSQUARE in Kwun Tong. 7-storey office building, involving 138,000 square feet.

In addition, the demand for leasing in Central is still keen, mainly from the expansion needs of banks and professional service industry tenants. Its China Taijunan reportedly leases 10,100 square feet of floor space in Wanyi Building.

Jones Lang LaSalle feeds up 5% to 10% throughout the year

According to Ma Anping, head of research at Jones Lang LaSalle, the local economic climate is active and it is expected that the rental demand and rent for office space will continue to rise in the coming months. Therefore, the revised rent forecast anticipates that Grade A office rents will increase by 5% to 10% this year.