Property News · September 10, 2020

Rising vacancy, sliding rents in Hong Kong signal cracks in world’s most expensive retail strip to persist into new year


The world’s most expensive retail strip is likely to endure another six months of industry slump as shop owners struggle to replace premium tenants amid Hong Kong’s deepening recession.Global brands from Prada to Rolex and Victoria’s Secret have in the past year vacated their space near or along Russell Street in Causeway Bay – whose rents exceeded those in New York, London or Paris at the peak of the cycle – as the economy suffered from political upheavals and public health crisis.“The market…

Source : South China Morning Post
Read more…Rising vacancy, sliding rents in Hong Kong signal cracks in world’s most expensive retail strip to persist into new year