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Hong Kong retail rents are tipped for a modest rise of up to 5 per cent this year according to a research report from real estate advisor Savills. But the authors, Nick Bradstreet, MD, head of leasing and Simon Smith, senior director, research & consultancy,…
Russell Street in Hong Kong’s Causeway Bay district has replaced New York’s Upper 5th Avenue as the world’s most expensive retail street by rental value, according to property consultants Cushman & Wakefield. For the first time in five years, the city has…
Prime Hong Kong street-shop rents rose 4 per cent in the first three quarters of this year, ahead of the up-to 3 per cent rise prediction by Savills a year ago. In a third-quarter real estate briefing released yesterday, Savills said shopping-centre retail…
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…
It is the highest vacancy level since 1Q11. Island-wide, overall vacancy for retail spaces rose 8.4% in 3Q16, recent figures from Urban Redevelopment Authority showed. According to CIMB, this has been the highest level since 1Q11. The brokerage firm noted…
CBRE’s semiannual Global Prime Retail Rents Report found that prime retail rents grew 3.7 percent globally in the second quarter of 2016 from a year earlier, buoyed by consumer confidence in the U.S. and limited supply in Europe’s top retail markets.…
Current retail thinking that the high and the low ends are driving the industry has gotten a boost from CBRE Group. High street rents are off the charts worldwide, according to company’s just-released Global Retail Rents report. Rents in prime shopping…
Twilight has come for the retail industry in Hong Kong, said cosmetic outlet operator Sa Sa International (0178) chairman Simon Kwok Siu-ming, although he remains optimistic of better days ahead. The week-long national holiday saw improved sales for the firm,…
Singapore retail rents slipped during the last quarter – but experts say the outlook is not too grim. According to Edmund Tie & Company Research, average monthly retail gross rents across the island eased by 1.2 per cent quarter-on-quarter to about $29.30 per…
The Singapore retail rent decline gathered pace in the last quarter according to data from Edmund Tie & Company. In the second quarter, retail rents across the board fell by 3.9 per cent quarter-quarter. That was double the 1.9 per cent decline of the…
Growing ranks of Hong Kong landlords are renting out retail space for as little as 90 days to ride out the downturn. The number of short term Hong Kong leases has risen sharply since November, according to property agent Midland IC&I. The trend began in the…
The Bankok retail market is now the most competitive it has ever been, with the expansion by retail developers in the central business district (CBD) and suburban areas. The entry of new local and international retailers, combined with a challenging economic…
In the heart of Guangzhou’s Yuexiu district, the shopping centre La Perle is a symbol of luxury living in the southern mainland city. The high-end shopping mall, which opened in January 2004, has long been the first stop for many international brands seeking…
Hong Kong retail rents weakened further in the third quarter – and worse is to come, according to CBRE’s quarterly review. Against a backdrop of a seven per cent fall in watch and jewellery sales in July and August combined, there was an increase in lease…
