🏙️ Hong Kong office leasing momentum builds as capital returns

Hong Kong’s commercial property market strengthened in Q3 2026, with office leasing rising for a sixth straight quarter and investment activity increasing 65% year on year, according to Colliers’ latest market report. The brokerage said the city saw improving demand across premium offices, retail and industrial assets as overseas capital returned.

The brokerage said office leasing momentum was supported by a stronger pipeline of occupier demand, while investment volumes broadened after a softer period. CBRE separately reported gross office leasing volume of 1.4 million sq. ft. in Q3, up 17% from the previous quarter, with Central accounting for 27% of activity. The reports suggest Grade A offices were among the clearest beneficiaries of the rebound.

Why it matters for investors

The numbers suggest Hong Kong’s commercial market is moving from stabilisation toward selective recovery, with prime office stock drawing the first wave of demand. A return of overseas capital and stronger leasing volumes typically improve pricing confidence for institutional buyers, particularly in tightly supplied core districts where vacancy pressure is easing.

➡️ Investment activity in Hong Kong commercial property rose 65% year on year in Q3 2026, according to Colliers.

➡️ Central remained the main leasing driver, reinforcing the premium for core office locations.

The latest data indicates that investors are regaining confidence in Hong Kong’s commercial core, even as the broader recovery remains uneven across asset classes.