2010-12-31-莱坊-Hong_Kong_Retail_market_December_2011_4页_275kb

Hong Kong Retail Market Summary December 2011

Key Trends

• Retail rents are expected to continue rising slowly in 2012 due to international retailers expanding into non-core shopping areas, despite global economic risks.
• Visitor arrivals to Hong Kong grew by 16.4% year-on-year in October 2011, with Mainland tourists accounting for 67.0% of total arrivals and showing stronger growth.
• Retail sales value reached HK$31.2 billion in 9M 2011, with a 24.1% year-on-year increase, driven by tourist spending.

Development Projects

• Renovations of locations like Tuen Mun's Grand Century Place and Stanley Plaza aim to increase customer flow and spending, with new malls attracting daily visitor surges.
• Projects such as V City and Stanley Plaza are expected to draw significant retail interest, focusing on non-core areas like Tuen Mun.

Market Data

• High retail property prices in non-core districts were recorded, with transactions and leases exceeding HK$30,000 per sq ft, indicating strong demand.
• Retail rents showed monthly growth across major districts, while the economy poses risks to market expansion.

Economic Context

• Global economic uncertainties may moderate retail growth, but domestic and tourism-related factors support continued investment in retail spaces.