Retail in Asia

In Shops

HK trump London, Paris for retail rent

While it may cost an arm and a leg to shop at some Hong Kong clothing boutiques, fashion retailers are also paying through the nose to rent space in the city, which ranks as the second most expensive in the world.

A report from Colliers International, "Retail Highlights Mid-Year 2012", has found that New York’s Fifth Avenue kept its top spot as the world’s most expensive fashion retail street, with annual rent of USD2,633 per sq ft as of March.

Next were Queen’s Road, Central, and Canton Road, Kowloon, with an average rent of US$1,831 per sq ft between them. Queen’s Road, Central retail rents gained 34.7 percent yearonyear, and Canton Road rents rose 30.2 percent, Colliers said.

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