Chinese-funded Jiaxia increased by 75% in 3 years
CB Richard Ellis published a report yesterday, showing that between 2016 and 2019, Chinese-funded institutions have strong demand for leases, and the leased area has increased by 75%. Together with the shared work space and decentralization trend, it is the Grade A office leasing market in Hong Kong. Bring a deep structural evolution.
According to the report, from March 2016 to March 2019, the total area of Grade A office rentals in Hong Kong increased by 430 million square meters to 7,570 million square feet. In the same period, the new supply of Grade A office buildings reached 580 million.
As of March this year, the vacancy rate in Hong Kong rose from 3.9% three years ago to 5.2%.
Among them, the total area of Grade A office rented in Hong Kong by Chinese-funded institutions in the past three years has increased by 210%, which is significantly faster than that of the previous three years (2013-2016). The main reason is that the Chinese-funded institutions have expanded their business in Hong Kong, and the scale of demand is even larger than that of newly established companies. Among them, Chinese financial institutions are the most active, with an increase of nearly 60% of the leased area in the past three years.