Central (Commercial Shops): Hong Kong recorded a total of 526 leasing transactions for commercial buildings in October, representing a year-on-year increase of 26.44%.

According to the latest statistics from Midland (Commercial), the commercial property market in Hong Kong recorded approximately 526 leasing transactions in October, involving a total floor area of about 1.56 million square feet. Compared to the same period last year, the number of transactions increased significantly by about 26.44% and 50.51% respectively. The absorption rate for Grade A buildings in Hong Kong Island and Kowloon has improved, while the vacancy rate in East Kowloon has decreased significantly. The vacancy rate in Kwun Tong district decreased by approximately 1.87 percentage points to 11.07%, reaching a new low for the year. Midland (Commercial) expects the Federal Reserve to cut interest rates again in November, which will help further boost the economic atmosphere. Combined with the peak season for corporate relocation before Christmas and New Year, it is believed that the leasing market for commercial properties in Hong Kong will remain active until the end of the year.