Arab Today, arab today hong kong tops world shop rent list
Last Updated : GMT 07:49:44
Arab Today, arab today
Arab Today, arab today

Hong Kong tops world shop rent list

Arab Today, arab today

Arab Today, arab today Hong Kong tops world shop rent list

Hong Kong - AFP

Hong Kong\'s bustling shopping district of Causeway Bay has knocked New York\'s Fifth Avenue off the top of the list of most expensive places to rent retail space in the world, new research shows. The Big Apple\'s most famous shopping street lost its top ranking for the first time in 11 years, in a sign of the strong demand for luxury goods from cashed-up Chinese shoppers, property services firm Cushman & Wakefield said. \"The highlight of this year\'s survey was Hong Kong... notwithstanding slowing economic activity, retailers continued to see the market as the ideal launching platform into mainland China,\" the firm said in a statement. Causeway Bay saw a surge in leasing activity with a 34.9 percent hike in rental values to $2,630 per square foot, compared with $2,500 in New York. The Champs-Elysees in Paris climbed two places to third at $1,129. \"There has been the usual jostling for the top positions between Hong Kong and New York,\" Cushman\'s Global Retail Services chief John Strachan said. \"But of course the real message here is the unfaltering advance of the top global cities, fuelled by a shortage of supply and the interest of international brands.\" Cushman\'s Main Streets Across the World report found that luxury retailing was driving rental growth, with stiff competition for the \"most coveted\" locations. The Asia-Pacific region had five of the 10 most expensive locations in the world, thanks to its increasingly affluent middle-class. Prime rents across Hong Kong, including Central district where luxury retailers occupy the ground floors of towers packed with the world\'s financial elites, grew by 21.8 percent in the year to June. Michele Woo, senior director of Cushman\'s Retail Transaction Services in Hong Kong, said a new duty on foreign home buyers and uncertainty about China\'s leadership transition could cool demand in the months ahead. \"Hong Kong will remain the ideal launching platform into China for international retailers although we are unlikely to see these very high levels of rental growth sustained,\" she said. Overall retail activity in the Asia-Pacific will remain healthy as international retailers struggle in their domestic markets, she added. The sharpest rental increase in a single market during the 12-month period was 75 percent at Colaba Causeway in Mumbai, India.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hong kong tops world shop rent list Arab Today, arab today hong kong tops world shop rent list

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hong kong tops world shop rent list Arab Today, arab today hong kong tops world shop rent list

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday