Hong Kong’s battered prime office market poised for better year ahead, analysts say
The supply of new grade A office space in 2026 and 2027 is likely to be less than new prime office space completed in the last two years
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.