Russell Street in Causeway Bay. Investors began to cut the asking rents because high-income mainland tourists have now changed their consumption habits. Photo: SCMP
Landlords forced to lower asking rents as mainland tourist spending falls
Decline in number of big-spending mainland tourists has hit sales of luxury goods, forcing owners to be more realistic in their rent demands
Russell Street in Causeway Bay. Investors began to cut the asking rents because high-income mainland tourists have now changed their consumption habits. Photo: SCMP
