The “Occupy Central” protest mainly disrupted the retail business of street shops in Mong Kok and Causeway Bay in the early half of Q4. Overall sentiment seemed to have improved towards the year-end amid holiday season
Overall rents for prime streets shops remained largely stable during Q4 with a slight drop of 0.2% q-o-q. A few eye-catching leasing transactions were concluded in prime areas, mainly from watch and jewellery retailers
Overall rents stayed on an uptrend supported by the stable external trade and the organic growth from tenants for prime warehouse. Relocation was also active amid ongoing building revitalization that forced tenants to move
Overall market vacancy rate for warehouses was lifted to 2.6% (up by 2.1 percentage points from Q3), mainly attributed to the new supply from SF Centre, bringing a circa of 653,000 sq. ft. marketable space
*Figures here are preliminary and may be subject to change in the final report.
The full set of CBRE Hong Kong Q4 MarketViews will be available in mid-Jan.
Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.
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