Property News · September 18, 2019

Causeway Bay’s retail vacancy rate to soar, with one in 10 shops standing empty as Hong Kong’s street rallies enter their 15th week


One in every 10 shops in Causeway Bay now stands empty, as three months of protest rallies have deterred visitors from the world’s most expensive shopping district, adding to the woes of a retail industry that is already suffering from a weakening yuan and mainland China’s abolition of luxury tax.As many as 102 shops stood empty out of 1,087 in August in the district, or a vacancy rate of 9.4 per cent, according to data by the real estate agency Midland IC&I, which noted that the tenant-free…

Source : South China Morning Post
Read more…Causeway Bay’s retail vacancy rate to soar, with one in 10 shops standing empty as Hong Kong’s street rallies enter their 15th week

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