According to data from China's real estate, rent of major Grade A office buildings in Central, Hong Kong have dropped compared to 2019, with the largest decline reaching 30%. CK Asset's The Center has experienced a rent income drop of more than 33%. Swire Properties' Tai Koo Plaza 1 and 2 saw a reduction in rent of 29% and 29.3%, respectively, compared to 2019. Tai Koo Plaza 3's rent also decreased by 19%, but increased by 2.8% compared to 2022.

Meanwhile, rent of other office buildings in Central and Admiralty areas have also declined compared to 2019, with the smallest drop at 18% for the Exchange Square of Hongkong Land.

The report also cited insiders that about one quarter of The Center has been vacant in the past year, and as of May, the occupancy rate of the soon-to-be-completed Phase 2 of The Center is about 10%. As for Henderson Land's The Henderson, located in Central, its occupancy rate is about 60%.

Swire Properties released its Q1 operating data last month, showing that the occupancy rate of its flagship office building in Admiralty, Tai Koo Plaza, stayed at 98%, but rent dropped by 17% year-on-year, the largest drop in its Hong Kong office portfolio and a significant expansion from the 12% decline in the fourth quarter of last year.