An increase in office leasing activity in Hong Kong, coupled with a moderate amount of new space coming onto the market, translates to improved prospects for the battered commercial property sector next year, according to analysts.
The supply of new grade A office space in 2026 and 2027 was likely to be less than the amount completed in the last two years, according to forecasts by property consultants.
CBRE estimated that a net of 3.5 million sq ft of new premium office space would be completed in the next two years, compared with the total of 4.5 million sq ft in 2024 and 2025.
Meanwhile, Colliers’ forecast showed a combined 3.04 million sq ft of new grade A office supply over the next two years, below the peak of 3.46 million sq ft this year. JLL projected a similar trend, with 3.28 million sq ft of new prime office space completed in 2026 and 2027, compared with 3.62 million sq ft this year.
“Overall leasing momentum is improving,” said Marcos Chan, head of research at CBRE in Hong Kong, adding that new leasing volume was likely to climb by 10 per cent year on year in 2026.
“With Hong Kong’s fundraising and wealth-management sectors being upbeat, we see the growing need for office space to accommodate the business growth of these firms, benefiting the Central and Tsim Sha Tsui office districts.”
