Leading today’s Hong Kong real estate news, the city’s metro operator plans to offer a land site above Wong Chuk Hang station for residential development this year. Also in the headlines, 20 percent of Hong Kong buyers say they will… Read More>>
New World’s Victoria Dockside Breaks Record For Kowloon Office Rents
New World Development’s K11 Atelier tower on the Tsim Sha Tsui waterfront has just leased out a full mid-level floor for a monthly rent of HK$2.6 million ($332,413), or HK$95 per square foot, according to a media report. The rate… Read More>>
Foreign Retailers Shift Away from Prime Areas as HK Rents Rise
Hong Kong’s retailing landscape is changing. With the competition for space in the city’s traditional retail districts–Central, Causeway Bay, Tsimshatsui and Mongkok–driving rents to eye-watering levels, foreign retailers are increasingly shifting their focus to shopping centres in the New Territories. Fast fashion brands such as Uniqlo, Gap, H&M and Zara have been leading the trend but others are following.
In addition to capturing a share of the growing Mainland-shopper market, retailer interest is also being attracted by growing local populations resulting from the completion of new residential developments.
Beijing’s Wangfujing Now Among Asia’s 10 Priciest Retail Locations
China’s growing taste for shopping is pushing up retail rents in the world’s second-largest economy, and now a global survey has confirmed that in at least one key district, the cost of securing shop space is among the ten highest… Read More>>
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