More pain for retailers as shoppers spend in Shenzhen, slowing Hong Kong recovery
Hong Kong’s economic recovery is slowly filling up retail spaces, pushing vacancy rates to a three-year low. The rebound, however, is bypassing the northwestern part of the city in Yuen Long and Sheung Shui.
- Vacancy rates in Sheung Shui and Yuen Long in the northwestern part of city have risen as locals prefer to shop across the border, Midland report shows
- Hong Kong resident departures totalled 15 million in January and February, matching the volume in 2019, Colliers said