Property News · March 4, 2020

Rents, prices of Hong Kong shops in core shopping districts could sink 80 per cent in next two to three years, property agency says


The rents and prices of shops in Hong Kong’s core shopping districts could plunge to 2006 levels – a decline of 40 per cent – by the end of this year, Midland IC&I, an agency that has tracked shop vacancies since 2016, said on Tuesday.Rents and prices could even drop by 80 per cent in next two to three years, if retail sales and the economy do not pick up, it added.The agency, which deals in retail, office and industrial property, forecast that one in seven shops, or up to 15 per cent, will be…

Source : South China Morning Post
Read more…Rents, prices of Hong Kong shops in core shopping districts could sink 80 per cent in next two to three years, property agency says

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