Tsim Sha Tsui now Hong Kong’s most expensive retail area, with Causeway Bay luxury sales hit

Tsim Sha Tsui, located on the tip of Kowloon peninsula, has emerged as Hong Kong’s most expensive retail neighbourhood for the first time in its history. Causeway Bay, which had held the accolade until now, has been hit harder by sluggish luxury goods sales.Tsim Sha Tsui, which is home to Canton Road and its Hermes, Chanel and Gucci luxury boutiques, has seen rents decline by about 17 per cent in the three months between April and June to an average of HK$1,018 (US$131) per square foot a month,…

Read the original article at South China Morning Post