Home Business Hong Kong’s retail sector, caught within the doldrums, pushes emptiness fee of street-level outlets to file high-Autopresse.eu

Hong Kong’s retail sector, caught within the doldrums, pushes emptiness fee of street-level outlets to file high-Autopresse.eu

Hong Kong’s retail sector, caught within the doldrums, pushes emptiness fee of street-level outlets to file high-Autopresse.eu

Hong Kong’s retail sector, caught within the doldrums, pushes emptiness fee of street-level outlets to file excessive

2020-09-15 11:14:09

The emptiness fee of avenue degree outlets in Hong Kong’s 4 main procuring districts – Causeway Bay, Mong Kok, Central and Tsim Sha Tsui – has reached a file excessive of 12.6 per cent and is predicted to climb to 14 per cent within the first quarter subsequent yr, because the retail sector sees no respite from the financial downturn caused by the coronavirus pandemic, in accordance with Midland IC&I.

And because the emptiness fee mounts, store rents within the core districts are more likely to sink by 40 to 50 per cent this…

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