Grade-A office rents in Hong Kong's central business district Central are likely to fall by 10 to 15 percent in the first half of the year amid shrinking demand from the business sector and growing competition from landlords in less central areas, according to property consultant Knight Frank.

As tenants are inclined to relocate to cheaper locations, rents in non-core districts such as Causeway Bay, Quarry Bay and Wan Chai could rise by up to 5 percent over the period, it said.

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