Hong Kong landlords adopting more cautious leasing stance

Some make renewal deals one year ahead.

According to CBRE, some landlords have turned more cautious during the quarter. This comes on the back of sluggish demand coupled with current and/or future vacancies rising in some buildings. 

This is not only confined to Central, but also some buildings in Tsim Sha Tsui and Kowloon East.

CBRE said that there have been cases of landlords becoming more flexible on lease terms to lease vacant space. Some landlords are also negotiating renewals one year in advance to retain existing tenants.