Pedestrians walk past closed stores on Russell Street in the Causeway Bay, Hong Kong. The Covid-19 pandemic has slammed tourist arrivals and retail sales for almost two years. Photo: Bloomberg Pedestrians walk past closed stores on Russell Street in the Causeway Bay, Hong Kong. The Covid-19 pandemic has slammed tourist arrivals and retail sales for almost two years. Photo: Bloomberg
Pedestrians walk past closed stores on Russell Street in the Causeway Bay, Hong Kong. The Covid-19 pandemic has slammed tourist arrivals and retail sales for almost two years. Photo: Bloomberg

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

  • Landlords and retailers on Russell Street are facing a tough ending to the year as vacancy jumps, sales slump, analysts say
  • Shops vacated by global brands may be tenanted by new players that count on local consumers instead of tourist dollars, devaluing rent premium

Topic |   Hong Kong property
Pedestrians walk past closed stores on Russell Street in the Causeway Bay, Hong Kong. The Covid-19 pandemic has slammed tourist arrivals and retail sales for almost two years. Photo: Bloomberg Pedestrians walk past closed stores on Russell Street in the Causeway Bay, Hong Kong. The Covid-19 pandemic has slammed tourist arrivals and retail sales for almost two years. Photo: Bloomberg
Pedestrians walk past closed stores on Russell Street in the Causeway Bay, Hong Kong. The Covid-19 pandemic has slammed tourist arrivals and retail sales for almost two years. Photo: Bloomberg
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