More rent increases in store for retailers

Rents for shops in prime locations will rise by 15 per cent this year, following a 32 per cent increase in 2011, property consultant Savills predicts. 'Hong Kong is emerging as the world's most sought-after retail location,' said deputy managing director Nick Bradstreet, with retailers competing for space to satisfy the appetite of mainland visitors for luxury goods. Peggy Sito

Big leap in sales of second-hand homes