2026年香港岛甲级写字楼市场前景从波动到机遇-2026年香港岛甲级写字房市场前景

Contents 4Emerging Trends- Tenant Appetite and Leasing Dynamics 1. Executive Summary Hong Kong is sharpening its role as a high-trust hub for capital and global finance. We haveseen an uptick in transactions for Premium Grade Assets in Central and West Kowloon, withdemand for this basket of buildings likely to increase further in 2026. Landlords positioning The opportunity for occupiers is likely to be either in the buildings that will have significantfuture vacancy, due to large moves that are set to happen through to 2028, or in quality Wendy LauExecutive Director, Head of Hong Kong Office Strategy & Solutions To Tenants To Landlords Window closing for upgrade:Vacancyin Premium Grade Assets is tighteningand therefore speed to market is key foroccupiers interested in these assets. Fitted offices have shorter void periodsthan bare shell units:providing fit out,including floor coverings, partitions, Stability over uncertainty:longer-termleases can ensure rent stability andCapex amortisation Non-monetary incentives:access totenant programming, third spaces andshared amenities increase attractiveness Beyond Central and West Kowloon:opportunities for favourable commercialterms in quality assets remains outsideof Core Central and West Kowloon foroccupiers seeking value over address Asset enhancement:offices with highoccupancy rate may consider assetenhancement works to justify future rental 2025 Leasing Demand SummaryCompanies associated with Chinese mainland IPO activities have continued to grow, driving increased demand for banking, legal, and professional services. Wealth management and insurance firms are broadening their office footprint to meet therising needs of clients from the mainland. Concurrently, unprecedented southbound capital inflows and a more favourable 2. Market Overview Diverging performance between submarketsDemand for premium Grade-A office space in Central is rising; however, due to oversupply in several districts, rental forecasts for non-premium offices outside Central are expected to decline in 2026. Over 2025, we noted that over 50% of newleases were in Central, with this trend continuing vacancy will tighten in Central. This will have a positive ripple effect in to Diverging performance between buildingsWe expect the bifurcation of the market to widen further in 2026. The Grade-A office market in 2025 displayed a clear two speed pattern, with prime CBD buildings offering modern specifications and a comprehensive amenity stack continuingto attract stable demand and “flight-to-quality” relocation. Meanwhile, older or non-core Grade-A buildings faced growing 3. Demand Driver 1 Chinese Mainland IPO Surge Driving Multi-SectorDemand Robust Demand from Chinese Mainland Enterprises Tenants from the Chinese mainland typically seek an office with sea views, an impressive lobbyentrance, and convenient access to MTR stations. Central and Kowloon Station remain the mostdesired locations due to their connection to the High-Speed Rail. As it is becoming difficult to find Furthermore, numerous technology firms and start-ups from the Chinese mainland are usingCo-working spaces as a temporary office solution, with the intention of moving to traditional office Laura LeeHong Kong Office Strategy & Solutions IPO – lifting upstream &downstream business demand AUM of Mainland-related *asset management entities wasHK$3.1 trillion in 2024 (+15% YoY)As connections between the Chinese mainland and Hong #118 companies listed in 2025 (+74% YoY)HK$286 billion fund-raised in 2025 (+225%YoY) Kong strengthen, wealth management and private bankinghave seen an increase in business streams from Mainlandclients. Moreover, banks have established wealth management H-shares listed on the HKEX were the primary contributors in2025, accounting for over 60% of both the listed companies andfunds raised. The resurgence of the IPO market has heightenedthe demand for banking, legal, and professional services.Consequently, businesses associated with Chinese mainland IPOs *Note: Asset managers subject to SFC regulation Beyond the services required for company listings, HongKong’s advantages as a springboard for Chinese mainlandenterprises expanding overseas have become increasinglyevident. Mainland technology firms and start-ups arestrengthening their presence in the city, opting for smaller New insurance premiums for long term business increased+50% YoY in 1H2025 The insurance sector is also benefiting from stronger businessflows from the Chinese mainland. Many firms have significantlyexpanded their client centres and operational offices, particularly Financial Sector Expansion and Liquidity Revival In Q2 2025, a sharp spike in the Chicago Board OptionsExchange Volatility Index (VIX) generated substantialopportunities for arbitrage, dispersion trades, andhigh-frequency strategies across equities and derivatives.The global market conditions created one of the most boosting trading volumes and re