Savills: Hong Kong's core district street shop rents rise by 0.9% per quarter, retail landscape undergoing structural changes.

According to the Zhitong Finance APP, Savills stated that despite a significant increase in inbound tourists, the retail industry in Hong Kong still faced pressure in the first half of this year, with retail sales falling by 5.5% year-on-year. Retail rents continued to adjust, with rents for street shops in core areas rising slightly by 0.9% per quarter. However, mainland brands, e-commerce platforms, and sports and health tenants are expanding in core areas, indicating a shift in tenant mix and consumer demand.