Hong Kong industrial rents record a 6% drop in Q3

Landlords offered deeper rental concessions.

According to a Colliers report, the suspension of heightened tariffs between the US and China, currently in effect until November 10, has provided some support to merchandise trade, resulting in double-digit YoY growth in the first eight months of 2025.

The report said that the Hong Kong Purchasing Managers’ Index registered at 50.4 in September, marking the second consecutive month of expansion for the private sector. However, external demand continued to contract due to trade uncertainty.

“Leasing activity picked up as landlords offered deeper rental concessions, contributing to a 3.5% QoQ and 6.0% YoY decline in industrial rents. One of the key transactions was SF Supply Chain securing space at Cainiao Hong Kong Smart Gateway,” the report added.