File photo. AfriHKanews
This news first published by South China Morning Post.
Rents in the area, a haven for tourists, rose 7 per cent from a year earlier to US$1,607 per square foot in 2024, real-estate services company Cushman & Wakefield said in a report released on Thursday.
New Bond Street in London, which was ranked fourth last year, surpassed Tsim Sha Tsui. Its rents rose 13 per cent from a year earlier to US$1,762 per square foot.
The global list was topped by Via Montenapoleone in Milan, where rent per square foot rose 11 per cent to US$2,047. That was followed by the shopping thoroughfare of Fifth Avenue in New York, which was at the top of the heap in 2023.
But in the Asia-Pacific region, Hong Kong was still king. High street shops in Tsim Sha Tsui and Causeway Bay ranked first and second, followed by Tokyo’s Ginza district, where rents were US$1,186 per square foot. Central, where rents were US$721 per square foot, ranked eighth in the survey.
“High street retail rents in the four core districts, Tsim Sha Tsui, Central, Causeway Bay and Mong Kok, bottomed out in 2023,” said Rosanna Tang, the executive director and head of research at Cushman & Wakefield in Hong Kong. “Rents in these locations remained within the single-digit growth range of between 3 and 6 per cent year-to-date as of the third quarter.”
Newly signed leases by local and international brands picked up in the third quarter, helped by favourable rents in premier locations, Tang said.
Swiss luxury watchmaker Omega leased another shop on Russell Street – once the world’s priciest retail destination – for HK$400,000 (US$51,404) a month in September. Spanish fast-fashion brand Mango signed a three-year lease for a new shop in Central at a monthly rent of HK$1.25 million, a discount of more than 50 per cent from a peak reached more than a decade ago.
Overall vacancy rates in core districts dropped to 8 per cent in the third quarter from the previous quarter’s 8.8 per cent, Cushman said.
That underscores the attractiveness of Hong Kong’s retail-focused real estate market, despite a challenging business landscape, said John Siu, managing director of Cushman & Wakefield in Hong Kong. In addition, the city’s commercial property market is expected to grapple with an increase in supply next year.
“Looking ahead, we expect to see more leasing activities and an increasing importance of Chinese mainland brands and retailers entering the Hong Kong retail market, using it as a stepping stone to promote themselves on the international stage,” Siu said.
Tourism traffic is recovering, and economically things are getting a bit better, which should help with spending in the city’s premier locations, he said.
香港尖沙咀被評為全球第四昂貴購物區
香港尖沙咀是今年全球第四大最昂貴的購物區，由於租金下降和商店空置，較上年下降了一位，但它仍然是亞太地區最豪華的購物目的地。
房地產服務公司 Cushman & Wakefield 在周四發布的報告中表示，該地區是遊客的天堂，到 2024 年，該地區的租金將比去年同期上漲 7%，達到每平方英尺 1,607 美元。
去年排名第四的倫敦新邦德街超越了尖沙咀。 其租金較上年同期上漲 13%，達到每平方英尺 1,762 美元。
全球榜單上位居榜首的是米蘭的蒙特拿破崙街（Via Montenapoleone），該地區的每平方英尺租金上漲了 11%，達到 2,047 美元。 其次是紐約第五大道購物大道，它在 2023 年位居榜首。
但在亞太地區，香港仍是王者。 尖沙咀和銅鑼灣的高街商店排名第一和第二，其次是東京銀座區，其租金為每平方英尺 1,186 美元。 中環的租金為每平方英尺721美元，在調查中排名第八。
香港戴德梁行執行董事兼研究主管Rosanna Tang表示：“尖沙咀、中環、銅鑼灣和旺角這四個核心區的高街零售租金將於2023年觸底。” “截至第三季度，這些地區的租金今年迄今仍保持在 3% 至 6% 的個位數增長範圍內。”
唐表示，由於優質地段的優惠租金，第三季本地和國際品牌新簽訂的租約增加。
瑞士奢華鐘錶製造商歐米茄 (Omega) 9 月以每月 40 萬港元（51,404 美元）的價格在羅素街（曾經是世界上最昂貴的零售目的地）租下了另一家商店。 西班牙快時尚品牌Mango在中環新店簽訂三年租約，每月租金為125萬港元，較十多年前的最高水準折扣逾50%。
Cushman 表示，第三季核心區的整體空置率從上一季的 8.8% 降至 8%。
高緯環球 (Cushman & Wakefield) 香港董事總經理蕭約翰 (John Siu) 表示，儘管商業環境充滿挑戰，但這凸顯了香港以零售為重點的房地產市場的吸引力。 此外，預計明年該市商業房地產市場將面臨供應增加的問題。
蕭先生表示：“展望未來，我們預計將會有更多的租賃活動，中國內地品牌和零售商進入香港零售市場的重要性將日益增加，並以此作為在國際舞台上宣傳自己的墊腳石。”
他說，旅遊交通正在復蘇，經濟狀況也有所好轉，這應該有助於在該市的黃金地段進行消費。
Source: SCMP
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