---
title: "JLL: The vacancy rate of Grade A offices in Central dropped to 10.1% in January, the lowest level since 2023"
description: "According to a report by Jones Lang LaSalle, the vacancy rate of Grade A office buildings in Central dropped to 10.1% at the end of January 2023, the lowest level of the year, down from a peak of 12.2"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/276578744.md"
published_at: "2026-02-23T08:40:12.000Z"
---

# JLL: The vacancy rate of Grade A offices in Central dropped to 10.1% in January, the lowest level since 2023

> According to a report by Jones Lang LaSalle, the vacancy rate of Grade A office buildings in Central dropped to 10.1% at the end of January 2023, the lowest level of the year, down from a peak of 12.2% in September 2024. The overall office vacancy rate decreased to 13.5%, with declines also seen in Wan Chai/Causeway Bay and Tsim Sha Tsui. Market leasing demand is returning to core areas, primarily driven by financial institutions, with overall office rents rising for the fourth consecutive month, and rents in Central increasing by 1.2% in January

According to a report by Jones Lang LaSalle, the vacancy rate of Grade A office buildings in Central dropped by 0.8 percentage points month-on-month to 10.1% at the end of January this year, down from a peak of 12.2% in September 2024, marking the lowest level since 2023. By the end of January, the overall office vacancy rate decreased to 13.5%; the vacancy rates in Wan Chai/Causeway Bay and Tsim Sha Tsui also fell by 0.5 percentage points month-on-month.

Guo Liyan, head of the commercial department at Jones Lang LaSalle Hong Kong, stated that the market is witnessing a trend of leasing demand returning to core areas, primarily driven by financial institutions. The vacancy rates of several top-quality Grade A office buildings in Central have significantly improved or dropped to single digits, and some overflow demand will gradually penetrate into non-traditional core business districts, benefiting the overall Grade A office market.

Zhong Churu, senior director of the research department at Jones Lang LaSalle, noted that the overall office rental rates increased by 0.3% month-on-month, marking the fourth consecutive month of growth, mainly driven by Central, where rental rates rose by 1.2% month-on-month, while other districts recorded slight declines

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.