
Hong Kong rents still the costliest for world’s retailers
Q2 rent 2% lower than Q1, however.
A new report from real estate services provider CBRE Group on international retail rental rates shows Hong Kong remaining the world’s most expensive city for retail rents.
On the average, Hong Kong rents stood at US$47,667 per square meter in the second quarter of 2013. New York finished in a distant second at an average rate of US$33,690 per square meter.
For the first quarter, Hong Kong’s average rent was US$48,600 compared to New York’s US$33,416.