According to CBRE’s 2023 Asia Pacific Retail Flash Survey, Hong Kong SAR is one of the top three preferred destinations for cross-border expansion in Asia-Pacific.
According to the report, tier 1 cities in Mainland China have topped the ranking as the most preferred destinations, followed by Hong Kong SAR and Singapore, both taking second place.
“China and Hong Kong are forecasted to enjoy the strongest sales rebound after lifting pandemic-related measures. Retailers are positive yet believe the rebound is in sight but will happen gradually over a longer period,” said Lawrence Wan, Senior Director, Head of Advisory & Transaction Services, Retail, CBRE Hong Kong.
“The return of Mainland China tourists to Hong Kong will give a strong boost to the sector. This is expected to drive leasing demand and rental growth, especially for tourist-oriented retailers. Retailers should also work with landlords for flexible leasing arrangements or fit-out incentives to manage costs.”
