Rent of Hong Kongshopping center is the highest globally


Confronted with the Europe and the United States economic downturn, Hong Kong as the place of strategic importance for Europe and the United States brand to get into the mainland market, its rent has been pushed to the highest throughout the world. According to the research of global survey, the core high-grade shopping center of Hong Kong has increased to more than 927 dollars each foot each year, and it is three times higher than that of Beijing, the rent of which is ranked the third. Meanwhile, the third season rent of causeway bay street shops has increased to 321 dollars per month per foot, which increased by 54% on a year basis and is the new record since the third quarter of 2005.

Sigrid Zialcita, the director and general manager of the global Asia research department stated at the press conference yesterday, retail markets are still flourishing though the recovery step of global economic is different, almost all rents form shopping centers of all places globally are still in the place of uptrend, among which the performances of Latin America and Asia are better, mainly with rapid economic development within the district, consumer groups all rise rapidly and the product needs of luxurious and international famous brand is growing fast, which in turn stimulate the continuous flourishing of retail markets.

Last year the rent of shopping centers of Asia-pacific region increased by 2.8%, and exceeded Europe and America. The gradual releases of policies to stimulate the rapid growth of the number of consumers and also to stimulate consumption, along with the process of globalization have accelerated the development of the retail market. The high-end shopping center of Hong Kong core area has reached more than 927 dollars each year per foot. This region has always attracted lots of tourists from the mainland, but with the relatively limited supply has made the area become the most expensive shopping mall in the world.

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