The Retail Landscape of Hong Kong: High Street Shops’ Rental Prices and Market Trends

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Recovery of Hong Kong's Retail Market and the Benefits of Data Monitoring

Today’s rapidly evolving retail market, businesses operating in Hong Kong understand the importance of effectively utilizing commercial data. The tracking of Hong Kong's commercial market data since September 2022 has provided valuable insights for businesses to better understand and analyze the country.

By analyzing both transaction and actual listing data together, businesses can unlock a deeper understanding of customer behavior, market dynamics and emerging opportunities. Armed with these insights, companies can make more informed decisions about retail space’s rent strategies, inventory management, marketing campaigns and overall business growth.

Key Highlights in Commercial Property Market

Due to the ongoing protests in Hong Kong and restrictions related to the COVID-19 pandemic, rental prices in the region had been declined until late 2020.
Small size shops (less than 0.5k sqft) experienced the most significant decline in rental prices during this period, but they also showed the fastest recovery during the recovery period.
Yau Tsim Mong is the most active and expensive area for rentals, with an average price of 132.70 HKD/sqft in Q1 2023.
Nathan Road is known for its high foot traffic and is a popular location for shopping and dining. The average unit rental value for properties on Nathan Road is approximately 129 HKD/sqft.
According to recent data from 2023 Q1, there is an average price difference of 24% between asking and transaction rental unit prices.

Market Trend (Transacted)

Due to the ongoing protests in Hong Kong and restrictions related to the COVID-19 pandemic, rental and sale prices in the region had been declined until late 2020.

Prices had increased slightly to 106.52 from 2018 to beginning of 2019. Protests and Covid Restrictions were the trigger of the trend change.

After Hong Kong Protests, during covid restrictions average price fell below 2018 level.

In the beginning of 2021, market recovery period started.

Unlocking the Power of Location-Based Data in Hong Kong with CII Solutions

If you would like to get more granular data for Hong Kong, get in touch with us! You may access granular location based data for Hong Kong through CII solutions. CII provides building level data for Hong Kong, including population, demographics and income . You may also reach updated retail space prices and new retail space opportunities linked with their catchment information.