Central Gold House Top Floor Rental Value Declines for Six Consecutive Years

SighingCashier · 2026-03-16T09:59:22+00:00

Hong Kong office vacancy rates remain elevated, leading to widespread rental declines. The top floor of 9 Queen's Road Central in Central has seen rental values drop for the sixth consecutive year, with the latest rental value at HK$4.476 million, representing a loss exceeding 20%. Similarly, the rental value of Central Centre at 99 Queen's Road Central has also experienced consecutive declines, with a cumulative drop of 43%.

SighingCashier

2026-03-16 09:59:22

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The vacancy rate for office buildings in this port is high, leading to a general decline in rents. According to the 2026/27 Rates Valuation by the Rating and Valuation Department, the top floor of 9 Queen’s Road Central, Central, has experienced a sixth consecutive year of rent value decline. The latest rent value is HKD 4.476 million, down more than 20% year-on-year.

The top-floor unit at 9 Queen’s Road Central, with a construction area of approximately 8,570 square feet, was purchased by the “rent collection king” Wing Lung Group in early 2018 through a shell company transaction. The sale price was nearly HKD 530 million, with a price per square foot of HKD 61,800, making it the highest-ever sale price per square foot for a commercial building in Hong Kong. Wing Lung sold it at a loss in June last year for HKD 230 million.

In the same district, the entire top floor of Central Plaza at 99 Queen’s Road Central, with a total area of 13,213 square feet, has a rent value of HKD 7.68 million for the next year, a 6.8% decrease year-on-year. It has declined for six consecutive years, with a total drop of 43%.

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