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 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
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

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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 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
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
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