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Causeway Bay in Hong Kong is now home to the world’s most expensive retail space. According to the annual Cushman & Wakefield survey of high-street retail rents, Causeway Bay has overtaken New York’s Fifth Avenue for the top spot, with rents of US$2671 per…
The Orchard Road retail vacancy rate has dropped to 5.6 per cent in the second quarter. According to a report by CBRE, the rate is the lowest in 14 quarters and well below 2016 figures. CBRE’s head of research for Southeast Asia Desmond Sim said, “On the back…
Rising vacancies and plunging rentals in shopping malls may be a headache for landlords, but it is not all bad news for retailers who have taken advantage of lower rentals to snag prime locations for their flagship stores. More than 10 flagship stores were…
Challenging market conditions continued to hit office and retail rents in the fourth quarter, although there are signs pointing to a brighter outlook for some landlords. Office rents fell by 1.8 per cent from the third quarter to the fourth quarter last year,…
Tokyo’s Ginza has overtaken Sydney into second spot behind Causeway Bay in the latest DTZ/Cushman & Wakefield Asian retail rent rankings. The annual Main Streets Across the World report tracks 462 of the top retail streets around the globe, ranking them by…
The data may be a little dated, but Asian cities are holding their own in the retail rent rankings. New York’s Fifth Avenue still tops the list with an average rent of US$3500 per sqft per year. Hong Kong’s Causeway Bay is cemented in second place at $2399…
Is there too much retail space in Saigon – downtown Ho Chi Minh City – the commercial hub of Vietnam? With more than 1.1 million sqm of retail space, it looks like the Saigon retail market is oversupplied. The closing of Parkson Paragon in the city’s District…
Hong Kong home prices could fall by 5 per cent to 10 per cent over the next three years, according to JP Morgan, which warned of the risks of an economic slowdown in the city. A slowdown marked by falling retail sales and a softening mainland economy would…
