DTZ: Luxury retail segment in Shenzhen depressed in 2Q15
According to DTZ’s Property Times, there was widespread discounting and mark-downs of high-end brands in Shenzhen in 2Q15. There was no new supply of retail space. However, growing e-commerce and the likely increase in supply of space through 2H15 meant that rents have been quite soft, particularly in the Luohu and Nanshan sub-markets. Rents remained firm in the Futian sub-market, where the vacancy rate fell to 6.3%.
Source : July 2015/DTZ/Shenzhen/RET