Hong Kong’s retail market is at the crossroads as retailers and landlords scramble to adjust their operations and leasing strategies to cope with market changes brought by dwindling mainland visitor arrivals and luxury goods sales.
Global commercial real-estate services provider Colliers International expects street-level retail rents in the city’s four prime shopping districts – Causeway Bay, Central, Mong Kok and Tsim Sha Tsui – to drop by 15 percent this year after a full-year decline of 5.5 percent in 2014.
In the first half of 2015, retail rents in the four districts plummeted 10.5 percent, going back to mid-2011 levels, Colliers International said.
(Source: The Jakarta Post)