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).