Hong Kong Retail Leasing - Oct 2021(Savills) 13 October 2021
Recovery remains elusive
In a broadly stable market, some signs of leasing activity were detected in Central, while F&B again proved to be the go-to sector for landlords.
- The market has been relatively stable over the third quarter with retail sentiment weak, while F&B has remained a rare bright spot.
- Dining-out or ‘eat-cations’ have become the ‘new holiday’ for locals, supporting the F&B sector across all price points.
- Leasing activity in core locations remains largely subdued except Central which continues to benefit from its reliance on high-end local demand.
- Rents in both the prime street shop and major shopping centre segments have stabilised and registered a QoQ growth rate of 0.4% and 1.2% respectively.
This article was originally published in https://www.savills.com.hk/
