A slowdown in Hong Kong office leasing reflects caution among multinationals, yet analysts see upside as investors seek stability
3-MIN READ3-MIN ListenCheryl ArcibalPublished: 9:00am, 13 Apr 2026Hong Kong’s reputation as a safe haven could be reinforced by the geopolitical shock waves from the US-Israel conflict with Iran, potentially supporting demand for premium office space in its core business districts, according to analysts.
While the city was not insulated from global uncertainty, it could benefit over the medium term as Gulf investors reassessed geographic diversification and sought stable financial hubs, said Jack Tong, director of research and consultancy at Savills Hong Kong.
Savills recorded 42 office leasing transactions in March, down from 76 in January and 64 in February. The figures track citywide leasing activity, with a focus on premium assets.
Multinational corporations (MNCs) had turned more cautious following strikes on Iran that began on February 28, as rising oil prices lifted operating costs and clouded earnings visibility, Tong said.
