Figures
Hong Kong Figures - Industrial Q4 2025
January 14, 2026 10 Minute Read
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- Industrial leasing momentum improved in Q4 2025, with leasing volume amounting to 1.1 million sq. ft., growing 55% q-o-q from a low base and reaching the highest level since Q2 2022. This brought full-year 2025 leasing volume to 2.9 million sq. ft., a decline of 11% y-o-y and marking the lowest level since 2014.
- Overall warehouse vacancy increased 1.3 ppts q-o-q to 13.0%, a record high.
- Overall warehouse rents continued to decline, falling by 2.0% q-o-q. This brought the full-year decline to 8.4% and the total drop in rents from the peak achieved in Q4 2023 to 12.7%.