4th September 2026 – (Hong Kong) A low-floor office at Admiralty’s Far East Finance Centre has changed hands for HK$17.68 million, about 64 per cent below the sum paid at the 2018 commercial peak, underscoring how Grade A prices are still searching for a floor even as leasing demand firms.
Finance firms have been expanding and taking up core Grade A floors, helping vacancy rates improve, yet capital values keep sliding. The latest deal involves Unit 01 on the third floor of Far East Finance Centre at 16 Harcourt Road. The premises measure about 1,022 square feet, sit at the building’s left front corner and offer a partial sea view. The sale works out at roughly HK$17,300 per square foot.
Land records show the vendor held the unit through a company. One of its directors is surnamed Yan and shares a name with the founder of an asset management firm, so the two may be the same person, though that has not been confirmed.
The owner bought in September 2018, when the office market was racing to its high, paying about HK$49.26 million, or HK$48,200 per square foot. Eight years later the price has evaporated by about HK$31.58 million. That paper loss alone would more than cover a cash purchase of a three-bedroom flat at Residence Bel-Air Phase 2 in the Southern District, where a recent deal closed at HK$28.8 million, with change to spare.
