Hong Kong ranks as the world's most expensive high-street retail destination with average rent of US$4,327 per sq ft per annum, surpassing New York, Paris, London and Tokyo by a substantial margin, according to the latest research from CBRE. This is the third consecutive year that Hong Kong has ranked top of the global list.
US neighbourhood and community centre vacancies fell for a second quarter, indicating a pick-up in a market that has remained subdued since 2013 as consumers increasingly take to online shopping, real estate research firm Reis said.Saturday, 18 April, 2015, 4:43pm
Hong Kong retailers have shifted strategy to cope with a sharp rise in people taking overseas breaks during the Easter and Ching Ming holidays and fewer mainland tourists.18 Apr 2015 - 4:41pm 8 comments
In what is one of the largest single-brand shops in Hong Kong, Prada opened a two-storey store in Russell Street, Causeway Bay, before the Lunar New Year, 18 months after the Italian luxury brand signed a leasing contract reportedly worth HK$9 million a month.18 Apr 2015 - 4:42pm
Hang Lung Properties is counting on a HK$500 million makeover of its main retail properties in Mong Kok and Causeway Bay to boost its rental income by up to 60 per cent.18 Apr 2015 - 4:27pm
Swire Properties says retail sales at the Pacific Place shopping mall dropped 6 per cent last year as foot traffic was hit by the Occupy Central protest.
Retail director Alvin Kong said the fall was mainly due to the impact of the protest in the fourth quarter.18 Apr 2015 - 4:48pm
The amount of domestic and international capital aiming to invest in retail property in the Asia-Pacific is expected to grow this year, following the already “prolific activity” witnessed last year, JLL says.18 Apr 2015 - 4:31pm
Stroll around Tsim Sha Tsui, especially Canton Road, and you will see hordes of designer devotees. The shopping district is a good spot to look at the state of Hong Kong's luxury retail business. In fact, the sector has rebounded strongly since the financial crisis, and across Asia, upscale brand sales are booming, with Chinese shoppers at the front of the queue.2 Apr 2014 - 2:56am
The sale of a 130-square-foot shop in Causeway Bay for a record HK$1.38 million per square foot surprised the market two weeks ago.
I received many inquiries regarding the deal after the South China Morning Post reported on it. The most frequently asked question was why the acquisition was made when retail rents were peaking.25 Mar 2014 - 1:18am 2 comments
Many of the super rich in Asia are drawn to invest in retail properties in Europe and the US because of the discount in pricing they get compared to their hometowns, a survey of 23,000 millionaires by property consultancy Knight Frank showed.18 Apr 2015 - 4:35pm
Underlying profit for last year at Hysan Development, the largest landlord in Causeway Bay, jumped 26 per cent year on year to HK$2.04 billion thanks in part to the contribution from the recently redeveloped Hysan Place in the prime shopping district.7 Mar 2014 - 2:58pm 1 comment
According to a report from Sheraton Valuers, 10 shops in Canton Road changed hands this year. "In all cases the new tenants are paying higher rents than the previous ones," said Sheraton chairman Sunny Yam Wing-yin.18 Apr 2015 - 4:40pm
Carlyle Group's US$1.3 billion deal to sell 650 Madison Avenue will set a record based on the per-sq-ft price for the office tower, driven by its retail space in the heart of midtown Manhattan's Plaza district.5 Jun 2013 - 4:40am
Retailers selling luxury watches and jewellery are rejecting the idea of paying big premiums for prime street-front shops, as mainland shoppers spend less on expensive gifts.31 May 2013 - 4:41am
Retail sales by volume were up 10.2 per cent year on year in March, down from a growth rate of 21.9 per cent in February, according to the latest government data. Growth in sales of jewellery, watches and high-priced gifts slowed even more sharply, falling from 27.9 per cent in February to 9.8 per cent in March.30 May 2013 - 3:33pm 3 comments
Fifty-one retail brands set up shop in the city, according to a study by CBRE Global Research & Consulting, which monitored more than 300 new retail openings across Asia-Pacific in 2012.8 May 2013 - 2:33am