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Retail properties

People passed a property agency in South Horizons. Photo: Eugene Lee

Hong Kong home sales surge to 5-month high amid easier mortgage rules

A total of 4,697 new and lived-in homes changed hands in October, reversing a two-month decline.

As Hong Kong and Singapore age, health businesses loom larger in property market

Hongkong Land seeks US$10 billion from asset reshuffle, eyes high-end market

Hong Kong’s office market to trail recovery in residential, retail properties

Reports of brisk weekend home sales show the housing market will outpace offices in recovery going into 2025, consultancies say.

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Hong Kong’s office skyline in Central in February 2024. Photo: Sun Yeung

Editorial | Retail woes call for new ways to keep Hong Kong’s customers satisfied

As another two chains pull out of Hong Kong and others reduce outlets, stores not afraid of change deserve support.

Hong Kong developers to feel earnings pain amid high vacancy rates: Moody’s

Moody’s says office and retail property segments are likely to remain under pressure.

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From Fila to Armani, brands snap up prime Hong Kong retail spaces

With rents as much as 65 per cent below historical highs, brands from Europe, the US and Japan see a chance to make a splash.

Hopewell Mall in Wan Chai, set for a soft opening next month, and will have an occupancy rate of more than 90 per cent. Photo: Handout

Hong Kong supermarket Uselect winds down operations amid relentless retail slump

A few outlets display signs announcing closure by end of October, while Post finds residents who pick smaller shops in effort to support local.

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Sentiment in Hong Kong commercial property market up on lower rates, stock rally

In the third quarter, commercial real estate investment volume rose 22.6 per cent quarter on quarter to US$1.28 billion, CBRE said.

Mainland Chinese retailers snag prime spots in Hong Kong at discounted rents

The slumping retail market is forcing landlords to extend deeper discounts, providing opportunities for brands to expand in the city.

The Balabala shop in Harbour City in Tsim Sha Tsui. Photo: Cheryl Arcibal

Hong Kong’s depressed commercial property market burns tycoons, investors

Hong Kong’s commercial property market has buckled under the crushing weight of China’s economic malaise, an exodus of global firms, a supply glut and high interest rates.

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Illustration by Henry Wong

Omega leases another Hong Kong shop amid retail leasing pickup

Swiss luxury watchmaker Omega is leasing another shop on Russell Street, once the world’s priciest retail strip, for US$51,404 a month.

Bakehouse grows as its egg tarts offer salve in Hong Kong’s retail gloom

The Wan Chai-based bakery will spend about US$4 million to double its branches to 10 by the end of 2025.

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Hong Kong’s Housing Authority sued over wet market’s unsanitary conditions

Statutory body accused of turning blind eye to water leakage, sewage pipe blockage and foul odour at market at Kwai Chung Shopping Centre.

The wet market at the Kwai Chung Shopping Centre has been plagued by defects, according to a court document. Photo:

Chinachem’s Nina Hospitality aims to move up market, eyes overseas expansion

Nina’s managing director said it is looking at expanding on the mainland and overseas, while becoming an upscale hotel group in Hong Kong.

Nina Hotel Tsuen Wan West pictured on April 21, 2021. Photo: Winson Wong

Call to cut rent for Hong Kong shops by third amid sluggish sales

Industry leader Annie Tse calls for a 30 per cent reduction in rents, saying downward trend will continue to year end or even early 2025.

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Spanish retailer snags prime Hong Kong shop at 50% discount amid retail slump

The monthly rent for the 14,000 sq ft space at Asia Standard Tower in Queen’s Road Central is HK$1.25 million (US$160,220), 55 per cent lower than the all-time high in 2012.

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Hong Kong home store chain Pricerite and Tom Lee Music shut branches

Pricerite, a major furniture and electrical appliances store, shuts two branches; Tom Lee Music also closes two shops.

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A customer looks at signs on the now-closed Tom Lee Music store in Kennedy Town. Photo: Dickson Lee

Chinese craft beer maker taps into Hong Kong’s frothy market

Hong Kong’s retail market, which is undergoing a shake-up, has seen an influx of mainland Chinese brands taking advantage of the declining rents.

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Mindful China shoppers embrace members-only retailers like Walmart’s Sam’s Club

Some bulk retailers on the mainland have carved out niche roles among shoppers, including bargain hunters from across the border in Hong Kong.

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Manila’s gaming ban has property developers eyeing new growth

SM Prime is relying on fundamentals and remittances to drive growth as Manila prepares to kick out Chinese workers in the online gambling industry.

SM Mall of Asia in Pasay City, Philippines, is one of the largest shopping centres in the world. Photo: Handout

Hong Kong Exco convenor Regina Ip appeals for retail rent cuts to help businesses

Regina Ip says she and New People’s Party colleagues found 104 vacant stores and stalls in two shopping centres and market in Southern district

The newly renovated Aberdeen Market in Southern district has been struggling to attract business. Photo: Edmond So

The richest Filipino family business sees China as the ‘growth driver’

The mainland is still teeming with opportunities in the commercial property market, despite its recent economic struggles, says Franklin Gomez of SM Investments.

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Heytea snaps up Mong Kok space as mainland brands step up Hong Kong expansion

New leases by mainland-based brands more than doubled in the first seven months of the year, according to JLL.

State-backed firms are top buyers, new pillar in Beijing’s real estate market

State-backed companies have outgunned other investors in Beijing’s commercial property market, adding to their aggressive purchases in 2022 and 2023, according to Savills.

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Beijing’s commercial buildings, viewed from a platform in a shopping mall in central business district in July 2024. Photo: AFP

Hong Kong retail: K-pop, K-dramas usher in growing demand for Korean restaurants

Korean F&B operators and retailers that have forayed into Hong Kong have made a significant contribution to the city’s retail segment.

Seoul Recipe is opening a new outlet in Wan Chai in September. Photo: Handout

Hongkong Land net loss widens 150% amid weak sales of mainland projects

The biggest landlord in Hong Kong’s Central district said its underlying loss was US$7 million for the first half after a US$295 million provision for development properties in mainland China.

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Hang Lung Properties’ profit sinks 56% amid Hong Kong, mainland China slowdown

First-half net profit fell to HK$1.06 billion (US$135.7 million), from HK$2.39 billion a year earlier on lower rental revenues, higher costs.

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Retail properties
Hong Kong ranks as the world's most expensive high-street retail destination with average rent of US$4,327 per sq ft per annum, surpassing New York, Paris, London and Tokyo by a substantial margin, according to the latest research from CBRE.
last updated:
9 September, 2024
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