Steady performance in next 12 months projected for CBD market

This is due to the current low vacancy rate.

In relation to the CBD office market, it has been noted that 3Q15 showcased a more sustained trend than in the past.

According to a research note from Barclays, recalling data in July, when the stock market first saw some correction, Hongkong Land had commented at its 1H15 briefing that demand this time would be more sustainable than the past “fits and starts” experience.

This view has now been validated by the 3Q leasing data. Chinese demand accounted for the majority of leases signed, although it came from various sectors such as small- to medium-sized
banks, securities firms and non-financial companies.

Here's more from Barclays:

The low vacancy rate at the moment may hinder demand translating into actual lettings as prospective tenants now need to put in more effort to search for suitable space. As a result, we believe the CBD office market should perform steadily in the next 12 months.

We continue to favour CBD landlords as beneficiaries of continued recovery, including Hongkong Land, Swire Properties and Cheung Kong Property.