Overall vacancy in office market edges down to 3.1% in 4Q15

It's the second-lowest ever recorded.

It has been noted that in the office market of Hong Kong's real estate sector, overall vacancy edged down from 3.2% in Q3 2015 to 3.1% in Q4 2015.

According to preliminary figures from a research note from CBRE, this is the second lowest level ever recorded.

Meanwhile, average rents of Grade A offices increased 9.0% y-t-d, reaching the highest level since the Global Financial Crisis in 2008.

Here's more from CBRE:

Further, rents continued to rise in Q4 but at a slower pace of 1.3% q-o-q, the mildest quarter of 2015.

Chinese firms and insurance companies remained active in looking for suitable space, meanwhile.

Also, Vertical Square in Wong Chuk Hang and 3 On Kwan Street in Sha Tin were completed in Q4, and almost all of 3 On Kwan Street’s 170,000 sq. ft. (net) of office space has already pre-sold.