Some segments of Hong Kong's commercial property sector, specifically the grade-A office and retail markets, are seeing a recovery, S&P Global Ratings said in a recent release.

A boost in the financial sector has led to steady rents for premium offices, while discretionary retail has seen a rebound due to the inflow of luxury shoppers from mainland China, S&P said.

Key metrics in these segments, such as net take-up and retail sales growth, have seen improvements, the rating agency said.

Landlords with exposure to the segments should see credit support even with a decline, albeit at a slower pace, in commercial rents, S&P said.

The highly specific recovery is in contrast with indications of general office oversupply and structural retail constraints, credit analyst Edward Chan said.