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Amid Hong Kong’s deepening retail slump, location is king
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Industry experts expect the disparity between Hong Kong Island and other areas to widen further in the months ahead.
ST PHOTO: LIM YAOHUI
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HONG KONG – As a retail slump in Hong Kong deepens, business sentiments in non-prime shopping areas – particularly those in Kowloon and the New Territories – have been most adversely affected, data from the city’s top real estate brokers indicates.
In the second quarter of 2024, average monthly rents for shopping malls on Hong Kong Island held steady after falling in the previous quarter, according to a retail rental index compiled by commercial real estate agency Savills Hong Kong.
