Hong Kong – Shutting up shops

Thursday, May 16, 2013

Rents at some of Hong Kong’s most upscale retail areas are now the highest in the world. Landlords have been ruthless. They have hiked rents continuously, taking them to such a high level that even well-heeled retailers are now moving out.

One shop, for example, has seen rents rise five times in the past six years.

All this has led to many empty shops, prompting experts to warn the bubble in Hong Kong’s commercial property market is about to burst.

Read more: http://www.thestandard.com.hk/news_detail.asp?pp_cat=48&art_id=133762&sid=39669555&con_type=3&d_str=20130516