Grade A office vacancy rates dropped to 12.6% in October

Kowloon saw the most significant improvement in the vacancy rate.

The overall vacancy rate of Grade A offices dropped to 12.6% in October, data from JLL showed.

Amongst the major office districts, Kowloon recorded the most significant improvement, with the vacancy rate dropping to 19.1%.

Tsimshaitsui also recorded a drop in vacancy rate, falling further by 0.4 percentage points, the most significant among the business districts. 

Meanwhile, office rent retreated by 0.5% MoM in October. Central and Wanchai/Causeway Bay witnessed rental drops of 0.2% and 1.0%, respectively. Tsimshatsui's rent remained firm.