2026-09-04-莱坊-Hong_Kong_Monthly_August_2026_4页_414kb

Hong Kong Monthly Summary - August 2026

Core Content Overview

This report provides an analysis of the performance of Hong Kong's office, residential, and retail property markets in July 2026, highlighting trends, demand, and market sentiment across key districts.

Office Market Analysis

Key Trends

• Premium Central: Vacancy rates dropped significantly from 14.5% at the beginning of the year to 9.7% in July. This area remains the most sought-after, with demand driven by Chinese mainland financial institutions.
• Sea-view offices: These properties have attracted significant attention, especially in Central and Wan Chai North. Strong enquiry levels have improved landlords' negotiating positions and contributed to firmer rental performance.
• Kowloon East: Vacancy rates slightly decreased to 21.5% in July, with a notable increase in leasing activity involving larger floor plates. Relocation activity accounted for 40% of transactions, up from one-third in the first half of 2026.
• Tsim Sha Tsui: Vacancy fell to 7.3% in July, down from 8.1% at the start of the year. The area saw a rebound in first-hand activity, expected to reach 1,000 units in August.
• Kowloon Central: The Gateway remains a top destination, particularly for Chinese mainland firms, due to its prime location and established business ecosystem.

Market Indicators (July 2026)

Market Sentiment

• Market sentiment is mixed due to stricter Chinese Mainland taxation and capital control policies.
• Price stability is expected, with increased volume anticipated from upcoming launches such as The Sterling (CR Land, ~2,200 units) and Park Silicon (Wheelock, 781 units).

Residential Market Analysis

Sales Activity

• Wong Chuk Hang: Deep Water South, Phase 6B, Tower 1A, 25/F, Flat A sold for HK$75,523,000 at HK$44,530 per sq ft.
• Wan Chai: Eight-Star Street, 25/F, Flat B sold for HK$42,420,000 at HK$43,286 per sq ft.
• Kai Tak: Cullinan Harbour, Phase 2B, Tower 8, 16/F, Flat A sold for HK$48,300,000 at HK$41,674 per sq ft.
• West Kowloon: The Cullinan Zone 2 Luna Sky, 18/F, Flat C sold for HK$43,380,000 at HK$42,198 per sq ft.
• Kai Tak: Cullinan Harbour, Phase 2B, Tower 8, 17/F, Flat B sold for HK$46,870,000 at HK$40,510 per sq ft.

Lease Activity

• Mid-Levels East: Mount Nicholson, Phase 2, Tower B, Lower Floor, No.8 leased for HK$610,000 per month at HK$145 per sq ft.
• Kai Tak: Cullinan Harbour, Phase 1, Tower 3, Upper Floor, Sky Manor leased for HK$260,000 per month at HK$119 per sq ft.
• North Point: The Pavilia Hill, Tower 2, Middle Floor, Flat A leased for HK$85,000 per month at HK$75 per sq ft.
• Mid-Levels Central: 22 Kennedy Road, Middle Floor, Flat South leased for HK$80,000 per month at HK$77 per sq ft.
• Mid-Levels Central: Dynasty Court, Tower 3, Upper Floor, Flat B leased for HK$108,000 per month at HK$71 per sq ft.

Retail Market Analysis

Sales Performance

• Retail sales in June 2026 increased by 4.6% YoY, marking the 14th consecutive month of growth.
• Luxury sales were the main growth driver, rising 20.1% YoY, although slower than the 26.0% increase in May.
• Local consumption remained subdued, with supermarket sales down 1.1% YoY and department store sales down 4.2% YoY.
• Online retail sales grew by 11.6% YoY.

Leasing Highlights

• The sale of the ground-floor shop and cockloft at 32 Cochrane Street, Central for HK$75 million reflects a 15.7% capital gain over three years, demonstrating the resilience of Central's prime retail market.
• Brentwood Coffee's lease commitment highlights strong demand from café and lifestyle operators in Central, leveraging the office population and tourist traffic.

Retail Sales by Outlet Type (June 2026)

Key Contacts

Research & Consultancy

• Esther Liu
  Director, Head of Research & Consultancy, Greater China
  Email: esther.liu@hk.knightfrank.com
  Phone: +852 2846 4813

Commercial Markets

• Paul Hart
  Managing Director, Greater China, Head of Commercial
  Email: paul.hart@hk.knightfrank.com
  Phone: +852 2846 9537

Office Strategy & Solutions

• Wendy Lau
  Executive Director, Head of Hong Kong Office Strategy & Solutions
  Email: wendy.lau@hk.knightfrank.com
  Phone: +852 2846 4988

Residential Agency

• William Lau
  Senior Director, Head of Residential Agency
  Email: williammw.lau@hk.knightfrank.com
  Phone: +852 2846 9550

Valuation & Advisory

• Cyrus Fong
  Executive Director, Head of Valuation & Advisory, Greater China
  Email: cyrus.fong@hk.knightfrank.com
  Phone: +852 2846 7135

Capital Markets

• Antonio Wu
  Head of Capital Markets, Greater China
  Email: antonio.wu@hk.knightfrank.com
  Phone: +852 2846 4998

Retail Services

• Helen Mak
  Senior Director, Head of Retail Services
  Email: helen.mak@hk.knightfrank.com
  Phone: +852 2846 9543

Important Notice

• This document contains general information and is subject to change without notice.
• All images are for illustration purposes only.
• Knight Frank is not liable for any losses or damages arising from the use of this information.
• The document is provided in confidence and is the intellectual property of Knight Frank.