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Hong Kong’s Canton Road overtakes Russell Street as Asia-Pacific’s most expensive place to rent a shop amid exodus of luxury retailers, survey finds

Hong Kong’s Canton Road has overtaken Russell Street as the most expensive place to rent a shop in the Asia-Pacific region for the first time, according to a survey by Cushman & Wakefield.The street in Tsim Sha Tsui ended 2020 at HK$944 (US$122) per square foot per month, 35 per cent lower than a year earlier, while rents in Causeway Bay’s Russell Street were down 43 per cent at HK$870, said the Asia-Pacific Main Streets Report. Causeway Bay’s drop was its first since the second quarter of 2014…

Read the original article at South China Morning Post

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