Russell Street in Hong Kong’s shopping district of Causeway Bay on June 14, 2015. The street has been the world’s most expensive retail strip, surpassing New York’s Fifth Avenue and the Champs-Elysees in Paris in rent. Photo: SCMP

With Prada out, can Hong Kong’s Russell Street outshine Fifth Avenue or Champs-Élysées as the world’s costliest retail strip?

  • Early Light Group, the landlord of Plaza 2000, is willing to cut rent by 44 per cent for the next tenant
  • Market observers expect overall rents in Russell Street to fall by up to 30 per cent as social unrest has dampened the overall spending mood, particularly for luxury goods
Topic |   Retail properties

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Russell Street in Hong Kong’s shopping district of Causeway Bay on June 14, 2015. The street has been the world’s most expensive retail strip, surpassing New York’s Fifth Avenue and the Champs-Elysees in Paris in rent. Photo: SCMP
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