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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…
Prime Vietnam retail rents are rising as a flurry of international retail brands move into Ho Chi Minh City. The third quarter of 2016 saw major changes of supply market in HCMC, according to a research report by Colliers International. In recent months, more…
Prime retail rents fell faster in Q3 Orchard rents fell 0.9% to $39.86 per sq ft. Leasing activity slowed and the rental decline quickened in Q3 2016 due to continued headwinds from poor overall retail sales and online competition. Based on rental records…
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…
Singapore retail is now “a tenant’s market”, realtors warn in the wake of official data showing further decline in boath rental rates and occupancy levels. According to URA data out today (April 22), retail rents fell by 1.9 per cent in the first quarter of…
Retailing landlords will likely continue to feel the pinch in coming times, as the ongoing slump in tourism is poised to weigh negatively on capital values in prime shopping districts, thumping prices a further 20 per cent next year, on top of an expected 20…
New York’s Upper Fifth Avenue is the most expensive retail street in the world with rents rising to US$3500/sqft. in 2015. That’s nearly 50 per cent expensive than Causeway Bay in Hong Kong, which has held its second place on Cushman & Wakefield’s latest…
The yuan devaluation could force Hong Kong’s retail landlords to cut rents as it threatens to erode shopping in the city by tourists from China, say analysts. A weaker yuan means these tourists will now be spending in a more expensive Hong Kong dollar,…
Tag Heuer is to close one of its Hong Kong stores as it battles high rents and falling sales. Tag Heuer Hong Kong’s Causeway Bay store on Russell St will close soon, according to Jean-Claude Biver, the head of Tag Heuer’s parent LVMH’s watch unit. While local…
Jeweller Chow Tai Fook has reportedly re-signed a retail shop rental lease at a 40 per cent reduction. It’s a rent reduction which will energise the retail sector, but not doubt send shivers through Hong Kong’s property community. Several listed luxury…
