Hong Kong

Rents are more affordable compared to pre-pandemic levels.

The new rate took effect on 28 July.

Retail sales dropped by 2.9% for the first time in five months.

The Census & Statistics Department said exports to the Mainland continued to fall.

Record luxury property transactions have boosted confidence in the market. 

Its Shatin and Sha Tsui Road branches will reopen Friday, and Fortress Hill on Monday.

The 10-storey industrial building is on sale until 15 September.

The performance satisfaction score of 6.4 is the highest posted in two and a half years.

All sub-indices rebounded during the quarter.

Adele mentioned that adopting new technologies, diversified business portfolios, and internal structure reorganisation are important in sustaining business post-pandemic.

The listing process is expected to be completed before year-end.

The launch is on a trial basis and will fast track quarantine procedures.

The property is estimated to be worth over $180m.

Charbon Lo emphasised that organisations ready to adapt and innovate in the ‘new normal’ are bound to succeed in such a volatile market.

It’s partly because of the new administration.   Landlords are becoming more optimistic about the retail market, and it's partly thanks to the new administration, said CBRE.   In a report, CBRE said the measures of the new administration to revitalise the economy has given landlords a confidence boost.   Also contributing to the landlords’ improved optimism is their belief that high-street rents have already bottomed out.   “They are expecting rents to be stabilised or to be improved from the current levels,” said CBRE, adding that landlords also feel that in the future, the impact of the pandemic on the retail market will be “limited.”   Brands and retail operators, for their part, are also “actively deploying their business strategies with most having new stores opening in the plan for the coming year,” said CBRE.   Segments which are most active in terms of expansion are healthcare, supermarkets, high-end household goods and daily necessities.   On the flip side, CBRE said landlords and tenants are still in a stage of the seesaw battle when it comes to compromising on the rental terms.   Given the situation, the expert said retail vacancy level in H2 will likely remain stable, whilst rents will only increase by a meagre 0% to 5%.

Vacancy rate in Central rose from 7.6% to 7.9%.