Office Market View

Hong Kong Office www.cbre.com.hk Fourth Quarter 2010 Quick Stats Changes from Q3 10 Q4 09 Absorption void Rate Rental Value Yields Supply ? ? ? ? ? ? ? ? ? ? OVERVIEW ? Hong Kongs preservation expanded 6.8% y-o-y in the third quarter, which marks the fourth unbent quarter of plus economic growth since the end of 2009. This squeeze out largely be attributed to the continued strength of Chinas economy, which helped Hong Kong to weather the impact of the global financial crisis. An optimistic regional economic outlook has also attracted foreign firms to establish topical anesthetic operations, as well as bring in oversea talent. ? Positive net absorption of 3.1 million sf for the whole of Hong Kong was save in 2010. While some of the absorption reflects the physical mint of space in new buildings such as ICC that was pre-leased earlier, it also reflects companies opening new offices in Hong Kong, particularly those in the licit and finance sectors taking up offices in the interchange district, as well as companies already in Hong Kong expanding their operations to capitalise on growth in the region. ? Vacancy across Hong Kong heavy-handed 3.3 percentage points y-o-y to honest 5.6% in December.

Vacancy in the fundamental business district dropped almost 2 percentage points y-o-y to average 3.1%, while vacuity in the prime A1 buildings remained below 1%. Meanwhile the vacancy rate fell 5.8 percentage points in Causeway Bay collect to strong take-up, while vacancy in Kowloon East ended 10 percentage points set about as companies took up space in newly entire buildings. Rents have risen as a result of the positive tenant demand amidst limited new supply. ? Office rents for Hong Kong overall increased 34.7% in 2010 to average $53.4 psf in December. Average rents in the Central district increased 40.2% to average $111.1 psf, while Central A1 rents increased 49.5% to average $147.9 psf. Rental growth of around 43% y-o-y was recorded both in Causeway Bay and Kowloon East, due to... If you want to get a full essay, order it on our website: Ordercustompaper.com

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