KF: Prime retail property in Hong Kong yields 2.3% in 4Q15
In its Greater China Property Market Report for 4Q15, Knight Frank (KF) noted that prime retail property yields in Hong Kong were 2.3%. The average price for prime retail property transacted was USD275,857 per square metre (psm). Average rents were USD670.10 psm per month. At the end of the quarter, the vacancy rate was 7.3%. Indicators highlighted by KF for the quarter included the sale of non-core shopping arcades (which highlighted the solid demand in mass retail markets) and the 3.1% year-on-year slippage in retail sales due to lower visitor arrivals.
Source : KF/ February 2016/Hong Kong/RET