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Hong Kong MarketBeat Reports

Rosanna Tang • 09/10/2025
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.  

Q3 2025 Highlights

Office: Grade A office market leasing demand accelerated in the quarter to take the Q1-Q3 total leased area performance past the 2019 level.

Retail: Retail sales gained momentum through July and August to record a 2.8% y-o-y uptick.

Logistics: Global trade uncertainties and tariff policies subdued leasing activity in the Q3 period.

Capital Markets: Real estate investment activity picked up in Q3, supported by interest rate cuts and attractive asset pricing.

Learn more by clicking our most recent Hong Kong MarketBeat reports below.

CURRENT MARKETBEATS

Office Buildings CBD
Hong Kong Office MarketBeat

Grade A office market leasing demand accelerated in Q3, boosted by renewed stock market activity and financial sector recovery. The quarterly new leased area of 1.13 million sq ft took the Q1–Q3 figure to 3.37 million sq ft, surpassing the pre-COVID performance in 2019. Quarterly net absorption achieved 401,000 sq ft, reducing the overall availability rate to 19.2%. The overall Grade A rental level softened 0.8% q-o-q.

Click here to download the report

Shopping Retail
Hong Kong Retail MarketBeat

Retail sales gained momentum through July and August to record a 2.8% y-o-y uptick. Causeway Bay and Mongkok high street shops were the most active for leasing activity, with expansion and relocation from pharmacy, athleisure, finance, and F&B brands. Key district overall vacancy dropped q-o-q to 8.3%, rents stabilizing in a range of -1% to +0.1% q-o-q.

Click here to download the report

Warehouse Internal Rack
Hong Kong Logistics MarketBeat

Global trade uncertainties and tariff policies subdued leasing activity in Q3, with consolidations and relocations dominating, although SF Supply Chain’s commitment to 95,500 sq ft at Cainiao Smart Gateway was a highlight. Emerging demand for metals storage is also a bright spot. The overall prime warehouse vacancy rate climbed to 10.6%. Prime warehouse rents dropped a further 3.4% q-o-q.

Click here to download the report

Office Buildings CBD
Hong Kong Capital Markets MarketBeat

Real estate investment activity picked up in Q3, supported by interest rate cuts and attractive asset pricing, with 27 transactions completed to surpass the 1H 2025 deal count. Quarterly non-residential deal volume at >HK$100 million recorded HK$8.9 billion, up 17.5% q-o-q. The office sector comprised 40% of total investment volume, followed by the hotel / rental housing sector at 26%, retail at 20% and industrial at 14%.

Click here to download the report

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