* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, September 7, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    The Secret to What Made ‘CarJack’ Work on As the World Turns – yahoo.com

    The Surprising Secret Behind ‘CarJack’s’ Success on As the World Turns

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Health Technology Ecosystem – Centers for Medicare & Medicaid Services | CMS (.gov)

    Discover the Future of Health Technology: Innovations Revolutionizing Patient Care

    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    The Economist is hiring a science and technology correspondent – The Economist

    Exciting Opportunity: Become Our Next Science and Technology Correspondent!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    The Secret to What Made ‘CarJack’ Work on As the World Turns – yahoo.com

    The Surprising Secret Behind ‘CarJack’s’ Success on As the World Turns

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Health Technology Ecosystem – Centers for Medicare & Medicaid Services | CMS (.gov)

    Discover the Future of Health Technology: Innovations Revolutionizing Patient Care

    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    The Economist is hiring a science and technology correspondent – The Economist

    Exciting Opportunity: Become Our Next Science and Technology Correspondent!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

Hong Kong Slips in Global Retail Rent Rankings as Recovery Lags

November 25, 2023
in Technology
Hong Kong Slips in Global Retail Rent Rankings as Recovery Lags
Share on FacebookShare on Twitter

Canton Road Tsim Sha Tsui

Visitors to Tsim Sha Tsui’s Canton Road aren’t stocking up like they used to (Getty Images)

Hong Kong’s Tsim Sha Tsui slid to the third spot among the world’s most expensive shopping districts this year as economic recovery in the Asian financial hub lagged its global peers, according to a report released this month.

Retail rents in the strip leading down to Victoria Harbour climbed 4 percent in 2023 to an average $1,493 per square foot per year. However, that uptick was not sufficient to match the 20 percent increase along Milan’s Via Montenapoleone, which displaced Tsim Sha Shui from the second-ranked spot it held last year with average rents of $1,766, according to Cushman & Wakefield’s Main Streets Across the World report.

Both cities again came in behind New York’s Fifth Avenue, which maintained the top spot that it had seized from Hong Kong last year, despite rents in the Manhattan hotspot holding steady at $2,000 per square foot per year. Rosanna Tang, head of research for Hong Kong at Cushman & Wakefield, attributed the city’s slide in the rental rankings to visitors shifting their spending to experiences over pricey merchandise.

“The focus of visitors in Hong Kong has shifted from ‘shop till you drop’ to a greater desire for local culture and experience-based touring,” Tang said. “The rise of e-commerce, the strengthened HK$ performance against other currencies, as well as competition from neighbouring GBA (Greater Bay Area) cities, are posing challenges for Hong Kong retailers and mall landlords, spurring them to implement ‘out-of-the-box’ retail solutions to maintain competitiveness.”

Asia’s World City Lags Globally

Within Asia Pacific, Hong Kong still claims an outsized slice of the region’s most expensive locations for leasing shop space, with Tsim Sha Tsui’s top rank in the region followed by Causeway Bay which held onto the second spot in APAC with annual retail rents inching up by 6 percent to $1,374 per square foot this year compared to 2022.

Rosanna Tang, head of research for Hong Kong at Cushman & Wakefield

Rosanna Tang, head of research for Hong Kong at Cushman & Wakefield

With office occupancy sliding in Hong Kong’s traditional business hub, Central district slid one spot to rank eighth among retail locations in APAC this year, despite rents climbing 9 percent compared to 2022 to $673 per square foot per year.

Rents in all three locations remain well below pre-pandemic levels, with Tsim Sha Tsui retail rents down 39 percent from pre-COVID rates, Causeway Bay having declined 46 percent, and Central at 40 percent below the boom years.

Compared to other top retail markets globally, Hong Kong saw the slowest post-pandemic rebound in shop rents, according to the C&W report.

The consultancy tied the slow recovery in rents to changes in traveller behaviour. Tang pointed out that shopping spending by overnight and same-day visitors in the first half of 2023 amounted to 55 percent and 18 percent of levels recorded in the same period in 2018, respectively. Since that time luxury brands have also adjusted practices of charging premium rates in their mainland stores, diminishing what was once a booming parallel import trade.

“In response to changing visitors’ preferences, landlords and retailers are advised to rethink their traditional strategies to enhance their existing retail offerings,” said Kevin Lam, executive director and head of retail services for Hong Kong at the property agency. “Experiential retail is here to stay and will continue to be in the driving seat of the new retail industry.

Japan on the Rebound

Japan has experienced a more robust retail recovery than the Greater China region with Tokyo’s Ginza district retaining its spot in the survey as the third most expensive retail location in Asia Pacific despite average rents in the famed strip remaining at $912 per square foot per year.

Four of the world’s 10 most expensive retail destinations are in APAC. (Source: Cushman & Wakefield)

Osaka’s Midosuji shopping strip moved up five spots in the rankings from placing 11th in 2022 to 6th this year following a 60 percent surge in rents to $730 per square foot.

Tokyo’s upscale Omotesando area as well as its Shinjuku business district claimed the fourth and seventh spots in APAC, respectively.

The strength of Japan’s retail sector is also gaining attention from global investors with PGIM Real Estate, an affiliate of US financial giant Prudential, noting in a report this week that the country is leading the region’s rebound in high street retail.

In the market outlook for 2024 the investment manager said it expects Japan’s retail rebound to extend through next year on the back of strong tourist arrivals and spending.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MingTiandi – https://www.mingtiandi.com/real-estate/research-policy/hong-kong-slips-in-global-retail-rent-rankings-as-recovery-lags/

Tags: Globalslipstechnology
Previous Post

Anthony Smith replaces ill Azamat Murzakanov to face Khalil Rountree at UFC Fight Night 233

Next Post

China Trust Lender Admits $37.5B Shortfall and More Asia Real Estate Headlines

Pope Leo appeals for peace in Holy Land, Ukraine, areas of world marred by war – Vatican News

Pope Leo appeals for peace in Holy Land, Ukraine, areas of world marred by war – Vatican News

September 7, 2025
The US Economy Is at a Turning Point—and the Stakes Are Higher Than You Might Think – Morningstar

The US Economy Stands at a Crucial Crossroads-Here’s Why It Matters Now More Than Ever

September 7, 2025
The Secret to What Made ‘CarJack’ Work on As the World Turns – yahoo.com

The Surprising Secret Behind ‘CarJack’s’ Success on As the World Turns

September 7, 2025
Fighting a health insurance denial? Here are 7 tips to help – Los Angeles Times

7 Powerful Strategies to Beat Health Insurance Denials and Secure the Coverage You Deserve

September 7, 2025
Florida Surgeon General admits he didn’t study impact before calling to lift vaccine mandate – CNN

Florida Surgeon General admits he didn’t study impact before calling to lift vaccine mandate – CNN

September 7, 2025
WA Department of Ecology decries federal report that downplays climate change – KREM

WA Department of Ecology decries federal report that downplays climate change – KREM

September 7, 2025
This Week in Science: Out-of-Sync Seasons, Anti-Aging Breakthroughs, And More! – yahoo.com

This Week in Science: Out-of-Sync Seasons, Anti-Aging Breakthroughs, And More! – yahoo.com

September 7, 2025
Diagnostic dilemma: Woman’s severe knee pain reveals ‘golden threads’ in her joints – Live Science

Mystery Solved: Woman’s Severe Knee Pain Traced to Shimmering ‘Golden Threads’ in Her Joints

September 7, 2025
PHOTOS: All the celebrities at Aryna Sabalenka’s US Open final victory – Tennis.com

PHOTOS: All the celebrities at Aryna Sabalenka’s US Open final victory – Tennis.com

September 7, 2025
Health Technology Ecosystem – Centers for Medicare & Medicaid Services | CMS (.gov)

Discover the Future of Health Technology: Innovations Revolutionizing Patient Care

September 7, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (811)
  • Economy (829)
  • Entertainment (21,707)
  • General (16,904)
  • Health (9,871)
  • Lifestyle (842)
  • News (22,149)
  • People (831)
  • Politics (836)
  • Science (16,039)
  • Sports (21,328)
  • Technology (15,809)
  • World (811)

Recent News

Pope Leo appeals for peace in Holy Land, Ukraine, areas of world marred by war – Vatican News

Pope Leo appeals for peace in Holy Land, Ukraine, areas of world marred by war – Vatican News

September 7, 2025
The US Economy Is at a Turning Point—and the Stakes Are Higher Than You Might Think – Morningstar

The US Economy Stands at a Crucial Crossroads-Here’s Why It Matters Now More Than Ever

September 7, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version