People walk past closed shops in Mong Kok. Some distressed owners are selling their units at heavily discounted prices as the segment shows no signs of improving. Photo: Edmond So
People walk past closed shops in Mong Kok. Some distressed owners are selling their units at heavily discounted prices as the segment shows no signs of improving. Photo: Edmond So

Street level shops, offices and industrial property bear the brunt of Hong Kong’s stuttering economy

  • Midland IC&I slashes forecast for industrial property, office and shop transactions by 15 per cent to about 4,700 this year, the lowest since 2020
  • A street level shop in Wan Chai sold recently for less than half the original purchase price of HK$33.5 million (US$4.3 million) nine years ago as sentiment remains weak

People walk past closed shops in Mong Kok. Some distressed owners are selling their units at heavily discounted prices as the segment shows no signs of improving. Photo: Edmond So
People walk past closed shops in Mong Kok. Some distressed owners are selling their units at heavily discounted prices as the segment shows no signs of improving. Photo: Edmond So
READ FULL ARTICLE