Asia Pacific Office Outlook 2024

HONG KONG

NEW SUPPLY

N EW S U P P LY ( M S F )

4.5

FORECAST

4.0

3.5

3.0

 Five new projects are expected to enter in 2024, totaling 1.2 msf.  Of the new projects, two will be in Kowloon East, and one

2.5

2.0

each in Greater Central, Wanchai / Causeway Bay and Kowloon West, respectively.

1.5

1.0

 Beyond 2024, the supply is expected to peak at 4.0 msf in 2025 and then drop back in 2026 at 0.8 msf.  The 5-year average supply from 2023-2027 is expected to reach 1.6 msf per annum.

0.5

0.0

2021

2022

2023F

2024F

2025F

2026F

2027F

Source: Cushman & Wakefield