{"id":118552,"date":"2020-09-10T07:30:07","date_gmt":"2020-09-10T00:30:07","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/rising-vacancy-sliding-rents-in-hong-kong-signal-cracks-in-worlds-most-expensive-retail-strip-to-persist-into-new-year\/"},"modified":"2020-09-10T08:03:52","modified_gmt":"2020-09-10T01:03:52","slug":"rising-vacancy-sliding-rents-in-hong-kong-signal-cracks-in-worlds-most-expensive-retail-strip-to-persist-into-new-year","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rising-vacancy-sliding-rents-in-hong-kong-signal-cracks-in-worlds-most-expensive-retail-strip-to-persist-into-new-year\/","title":{"rendered":"Rising vacancy, sliding rents in Hong Kong signal cracks in world\u2019s most expensive retail strip to persist into new year"},"content":{"rendered":"


\nThe world\u2019s 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\u2019s deepening recession.Global brands from Prada to Rolex and Victoria\u2019s Secret have in the past year vacated their space near or along Russell Street in Causeway Bay \u2013 whose rents exceeded those in New York, London or Paris at the peak of the cycle \u2013 as the economy suffered from political upheavals and public health crisis.\u201cThe market\u2026
\n
\nSource : South China Morning Post
\nRead more…Rising vacancy, sliding rents in Hong Kong signal cracks in world\u2019s most expensive retail strip to persist into new year<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The world\u2019s most expensive retail strip is likely to endure another six months of industry...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-118552","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-uQ8","jetpack-related-posts":[{"id":147378,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fila-panerai-armani-secure-big-hong-kong-retail-spaces-as-high-vacancy-rates-persist\/","url_meta":{"origin":118552,"position":0},"title":"Fila, Panerai, Armani secure big Hong Kong retail spaces as high vacancy rates persist","date":"October 14, 2024","format":false,"excerpt":"\r With rents as much as 65 per cent below historical highs, brands from Europe, the US and Japan see a chance to make a splash.\r \r Source : South China Morning Post\r Read more...Fila, Panerai, Armani secure big Hong Kong retail spaces as high vacancy rates persist","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118526,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-stores-exit-russell-street-hong-kong-once-the-worlds-priciest-retail-strip-amid-tourist-slump-over-covid-19-and-protests\/","url_meta":{"origin":118552,"position":1},"title":"Luxury stores exit Russell Street, Hong Kong, once the world\u2019s priciest retail strip, amid tourist slump over Covid-19 and protests","date":"September 7, 2020","format":false,"excerpt":"\r Russell Street in Causeway Bay, Hong Kong, one of the city\u2019s premier shopping destinations and often in the past the one with the world\u2019s highest commercial real-estate rents, is a shadow of its former self.Watch brand Rolex, lingerie label La Perla, skincare brand Kiehl\u2019s and watchmaker Omega have all\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":165180,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-tsim-sha-tsui-holds-ground-as-worlds-fourth-priciest-shopping-strip\/","url_meta":{"origin":118552,"position":2},"title":"Hong Kong\u2019s Tsim Sha Tsui holds ground as world\u2019s fourth priciest shopping strip","date":"November 19, 2025","format":false,"excerpt":"\r Hong Kong\u2019s Tsim Sha Tsui remained the world\u2019s fourth most expensive retail strip with rents at US$1,515 per square foot per year, as two other core shopping districts in the city \u2013 Causeway Bay and Central \u2013 also ranked among the Asia-Pacific\u2019s priciest shopping locations, according to Cushman &\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119389,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/covid-19-has-provided-hong-kong-property-developers-with-opportunity-to-evolve-worlds-most-expensive-office-market\/","url_meta":{"origin":118552,"position":3},"title":"Covid-19 has provided Hong Kong property developers with opportunity to evolve world\u2019s most expensive office market","date":"December 1, 2020","format":false,"excerpt":"\r A long-term trophy among global property markets, Hong Kong has needed a myriad of external events to accelerate long-awaited changes in real estate.Hong Kong\u2019s high office rents and low vacancy rates have consistently made news headlines. More recently, this has changed to significant rental declines, pushed by economic challenges\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110649,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/with-prada-out-can-hong-kongs-russell-street-outshine-fifth-avenue-or-champs-elysees-as-the-worlds-costliest-retail-strip\/","url_meta":{"origin":118552,"position":4},"title":"With Prada out, can Hong Kong\u2019s Russell Street outshine Fifth Avenue or Champs-\u00c9lys\u00e9es as the world\u2019s costliest retail strip?","date":"September 11, 2019","format":false,"excerpt":"\r Landlords in Hong Kong\u2019s Russell Street, the most expensive shopping address on the planet, are likely to slash rents after fashion house Prada declared it would not renew the lease on its flagship store next year, according to market observers.Prada\u2019s landlord has offered to cut the rent for its\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":157496,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-cant-hong-kong-retail-landlords-cut-rents-for-struggling-tenants\/","url_meta":{"origin":118552,"position":5},"title":"Why can\u2019t Hong Kong retail landlords cut rents for struggling tenants?","date":"July 13, 2025","format":false,"excerpt":"\r In a commercial rental market beset by high vacancy rates, many Hong Kong landlords feel stuck between a rock and a hard place: giving tenants a break on rent makes it harder to pay mortgages and threatens asset value, but holding the line on rent runs the risk of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/118552"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=118552"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/118552\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=118552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=118552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=118552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}