Figures
Hong Kong Figures - Industrial Q1 2026
April 14, 2026 10 Minute Read
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- Industrial leasing momentum remained slow in Q1 2026, with leasing volume totalling 682,800 sq. ft., a rise of 17% y-o-y from a low base but a decline of 35% q-o-q. This quarter’s leasing volume was slightly lower than the quarterly average of 790,600 sq. ft. recorded in 2025, indicating the moderation of occupier demand.
- Overall warehouse vacancy shrank by 0.3-ppt q-o-q to 12.8%, indicating positive net absorption of 135,800 sq. ft. and marking an end to four consecutive quarters of net withdrawal.
- Despite lower vacancy, overall warehouse rents fell by a further 1.2% q-o-q as landlords turned more willing to cut rental rates to improve occupancy. This marked the ninth consecutive quarterly rental decline.