Property News · February 19, 2020

Hong Kong’s retail sales could sink up to 50 per cent as city shuts out Chinese visitors amid coronavirus outbreak


Retail sales in Hong Kong could plunge by as much as half, as most of the city’s borders with China remain shut amid the Covid-19 outbreak and its impact could be more severe on the sector than the months-long social unrest, according to the CEO of Sunlight Real Estate Investment Trust.“Our estimate is clearly double-digits,” said Keith Wu Shiu-kee. “Whether it is 30 per cent, or 40 per cent, or 50 per cent, remains to be seen.”Sunlight, which is managed by a unit of Hong Kong’s third largest…

Source : South China Morning Post
Read more…Hong Kong’s retail sales could sink up to 50 per cent as city shuts out Chinese visitors amid coronavirus outbreak

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