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High vacancy rates in Hong Kong’s retail property market are likely to persist in the near term, which is providing incentives for retailers including Swatch, Abercrombie & Fitch and Mango to snap up prime spaces, according to analysts.
In the city’s four core shopping districts – Causeway Bay, Central, Mong Kok and Tsim Sha Tsui – between 8.9 per cent and 15.4 per cent of shops were empty in the third quarter, up from 6.8 per cent to 12.8 per cent in the first quarter, according to Midland IC&I. Vacancy is set to increase slightly in the first quarter of 2025, to between 9 per cent and 16 per cent, the commercial property agency said.
