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Hong Kong : Finance sector active once again in Central - Q1 2014

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The finance sector was very active in Central and continued to be the most active demand driver in the Central Financial District (CFD). As a result, the net absorption for this submarket stayed positive for two consecutive quarters to reach 201,055 sq ft and its vacancy rate dropped from 6.3% in Q4 2013 to 5.6% in Q1 2014.

The Hong Kong retail market has continued to receive support from the growing number of visitor arrivals. While leasing demand for the top-tier locations stayed strong from brand name retailers, especially in the jewellery, pharmaceutical and cosmetics market segments, vacancy for tier 2 locations has grown due to growing discrepancy in rental expectations between landlords and prospective tenants

Source : DTZ (Groupe UGL)