Property News · September 15, 2020

Hong Kong’s retail sector, stuck in the doldrums, pushes vacancy rate of street-level shops to record high


The vacancy rate of street level shops in Hong Kong’s four major shopping districts – Causeway Bay, Mong Kok, Central and Tsim Sha Tsui – has reached a record high of 12.6 per cent and is expected to climb to 14 per cent in the first quarter next year, as the retail sector sees no respite from the economic downturn brought about by the coronavirus pandemic, according to Midland IC&I.And as the vacancy rate mounts, shop rents in the core districts are likely to sink by 40 to 50 per cent this…

Source : South China Morning Post
Read more…Hong Kong’s retail sector, stuck in the doldrums, pushes vacancy rate of street-level shops to record high

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