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Growth of high street rents in core districts eases in Q123
Rents in core districts range from $211-$860.
High street shops in Hong Kong’s core districts only recorded low single-digit rental growth in the first quarter of 2023, data from Cushman & Wakefield showed.
Amongst sub-markets, Central recorded the highest rental increase of 3.2% QoQ. Rents in Central now stand at $378.
C&W said local white-collar consumers and high-end tourists drove the increase in Central rents.
Behind Central was Mongkok, which recorded a 2.8% increase ($333). Meanwhile, Causeway Bay, Tsimshatsui, Yuen Long, and Tuen Mun recorded increases of 2.4% ($783), 1.1% ($860), 2.3% ($277), and 2.0% ($211).
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