Lose less and win Canton Road, the most expensive shop rental in Asia-Pacific for the first time

Tokyo Ginza is still 31% higher. In addition to the impact of the epidemic and the economic downturn, this phenomenon reflects Hong Kong's unusually high retail rents.

Dominic Brown, Director of Insights and Analysis of DTZ Asia Pacific, pointed out that the main driving factors of market operation during the epidemic, namely, international border closures, city closures, and work-from-home measures are applicable in all regions. Therefore, the ranking of rent costs in the Asia-Pacific region has not changed much. Among the top 10 cities, Hong Kong, Tokyo, Sydney, Seoul and Osaka still dominate.

In addition, compared with all markets in the Asia-Pacific region, the retail business in Mainland China was the least affected, with an average rent drop of 5%. Rents in Beijing’s Central Business District fell by 14%, while rents in Shenzhen’s Luohu District have seen the largest increase of 5%.