Commercial Retail

Luxury brands are still wary of going to the high streets.

Thanks to residential catchments that drive demand.

Vacancy in Mong Kok increased 2.9ppt to 18.9%.

Tenants have been looking for small to medium-sized shops with lower rents.

The worst is already behind us, but rents won’t start picking up until 2022.

Thanks to foreign luxury brands’ resilience amidst the pandemic.

Prime gross rents declined by almost 3% in Q2.

Investors prefer these assets due to their stable earnings.

Prime high street rents slipped 0.3% in the same period.

Major retailers such as Naiise, Dimbulah Coffee and Manekineko had to shut down their stores.

Rents in regional and sub-regional areas fell 5.4% and 2%, respectively.

Manila hit a new 15-year record in Q2 as it overtook the 7% vacancy rate recorded in Q1.

Online transactions surged 54.9% in the first half of 2021.

Notable deals include Fraser Centrepoint Trust’s sale of YewTee Point for SGD220m. 

Retailers want to capture customers in large residential catchments. 

Hong Kong is expected to lead rental growth in the region this year.