# Hong Kong warehouse leasing hits four-year high in Q2

- **Source:** Real Estate Asia
- **Published:** 2026-07-13T23:57:44.000Z
- **Author:** Staff Reporter
- **Original:** https://realestateasia.com/industrial/news/hong-kong-warehouse-leasing-hits-four-year-high-in-q2
- **Topics:** Commercial & Industrial, Regional Markets

## Featured rationale

Expansion and redevelopment-related relocations are absorbing vacant space, but landlords' focus on occupancy may keep rental recovery gradual after ten consecutive quarterly declines.

## AI summary

Hong Kong warehouse leasing reached 1.6 million sq ft in Q2 2026, up 118% year-on-year and the highest quarterly volume since Q2 2022.

## Original article

Leasing demand more than doubled vs last year and reached 1.6m sq ft.

Hong Kong's industrial and logistics market recorded its strongest leasing quarter in four years during Q2 2026, driven by occupier expansion and relocation demand, according to CBRE.

New warehouse leasing reached 1.6 million sq ft during the quarter, up 118% year-on-year and the highest quarterly volume since Q2 2022. CBRE attributed the increase to expansion by electronics-related occupiers and forced relocations arising from brownfield redevelopment in the Northern Metropolis.

The stronger leasing market came as Hong Kong's external trade remained robust, with aggregate trade increasing 42.5% year-on-year in April and May following 34.6% growth in the first quarter. Air cargo throughput also rose 3.9%, although container throughput slipped 1.1%.

According to CBRE, warehouse vacancy declined by 1.2 percentage points to 11.6%, reflecting positive net absorption of 569,200 sq ft, the strongest level since Q3 2023. However, landlords continued to lower asking rents to improve occupancy, resulting in warehouse rents falling another 2.2% q-o-q. This marked the tenth consecutive quarterly decline, leaving rents 15.6% below their Q4 2023 peak.

CBRE said the combination of business expansion and redevelopment-related relocations has helped absorb vacant space, although rental recovery is likely to remain gradual as landlords prioritise occupancy.

## Chinese translation

> Translation model: grok

### 香港仓库租赁量在第二季度创四年新高

在租户扩张与搬迁需求推动下，香港工业及物流市场在2026年第二季度录得四年来最强租赁季度。

租赁需求较去年同期增长逾一倍，达160万平方英尺。

世邦魏理仕（CBRE）称，在租户扩张与搬迁需求推动下，香港工业及物流市场在2026年第二季度录得四年来最强租赁季度。

当季新增仓库租赁达160万平方英尺，同比增长118%，为2022年第二季度以来最高季度成交量。CBRE将增长归因于电子相关租户扩张，以及北部都会区棕地重建所引发的被迫搬迁。

租赁市场走强之际，香港对外贸易保持稳健，4月与5月合计贸易额同比增长42.5%，此前第一季度增长34.6%。空运货物吞吐量亦上升3.9%，不过集装箱吞吐量下滑1.1%。

CBRE数据显示，仓库空置率下降1.2个百分点至11.6%，反映净吸纳量达569,200平方英尺，为2023年第三季度以来最强水平。不过，业主为提升出租率继续下调叫价租金，导致仓库租金再环比下跌2.2%。这标志着连续第十个季度下跌，租金较2023年第四季度峰值低15.6%。

CBRE表示，业务扩张与重建相关搬迁的结合有助于消化空置空间，但随着业主优先考虑出租率，租金复苏料仍将循序渐进。