# Central set to outperform as Hong Kong Island office rents grow

- **Source:** Real Estate Asia
- **Published:** 2026-06-30T00:55:17.000Z
- **Author:** Staff Reporter
- **Original:** https://realestateasia.com/commercial-office/news/central-set-outperform-hong-kong-island-office-rents-grow
- **Topics:** Commercial & Industrial, Transactions & Deals, Investment & Capital Markets

## Featured rationale

Finance-led demand and occupier upgrades may sustain Central’s premium, while excess supply and competition could continue pressuring decentralised districts, particularly Causeway Bay.

## AI summary

Central office rents rose 9.9% year-to-date in H1 2026, with Knight Frank forecasting 8% to 12% growth for the full year.

## Original article

Overall Hong Kong Island Grade A office rents are expected to rise by 1% to 5% in 2026.

Hong Kong Island's Grade-A office market remains sharply divided, with premium CBD locations continuing to outperform despite elevated vacancies elsewhere, according to Knight Frank.

Knight Frank said Central recorded a 9.9% year-to-date increase in rents in the first half of 2026, underpinned by strong demand for high-quality office space. However, higher vacancy rates persist across several districts as substantial new supply enters the market.

Wendy Lau, Executive Director and Head of Hong Kong Office Strategy & Solutions at Knight Frank, said leasing demand continues to be driven by the banking and finance sector, particularly securities, private wealth and asset management firms. Co-working operators also played a significant role, accounting for 18% of first-quarter take-up through several large transactions, mainly in Central.

Knight Frank said PRC enterprises and start-ups remain key drivers of co-working demand, while occupiers are increasingly upgrading to larger, higher-quality premises and are also exploring office acquisitions for owner occupation.

Looking ahead, Knight Frank forecasts overall Hong Kong Island Grade-A office rents will rise by 1% to 5% in 2026, with Central expected to outperform through growth of 8% to 12%. Decentralised districts, particularly Causeway Bay, are expected to remain under pressure due to strong competition and excess supply.

## Chinese translation

> Translation model: grok

### 中环有望领跑，港岛写字楼租金上扬

港岛甲级写字楼市场分化明显，尽管其他地区空置高企，优质CBD地段仍持续跑赢。

预计2026年港岛甲级写字楼整体租金将上涨1%至5%。

据莱坊（Knight Frank），港岛甲级写字楼市场仍明显分化，尽管其他地区空置率高企，优质CBD地段持续跑赢。

莱坊表示，2026年上半年中环租金年内累计上涨9.9%，由优质写字楼强劲需求支撑。不过，随着大量新增供应入市，多个区域空置率仍处高位。

莱坊香港写字楼策略与解决方案执行董事及主管Wendy Lau表示，租赁需求持续由银行与金融业推动，尤其是证券、私人财富与资产管理公司。共享办公运营商也扮演重要角色，通过数笔主要在中环的大宗交易，占第一季度吸纳量的18%。

莱坊称，中资企业与初创企业仍是共享办公需求的主要推动力；租户日益升级至更大、更高品质的物业，亦在探索购置写字楼自用。

展望未来，莱坊预测2026年港岛甲级写字楼整体租金将上涨1%至5%，其中中环有望以8%至12%的涨幅跑赢。去中心化区域尤其是铜锣湾，因竞争激烈与供应过剩，预计仍承压。