• A third wave of COVID-19 cases impacted Hong Kong SAR’s already struggling retail market in Q3 2020.
  • The prolonged worldwide pandemic has prompted many global retailers to reevaluate their real estate strategies, leading to some store closures and market withdrawals from the city this quarter.
  • Overall vacancy climbed to the highest in four years while the fall in high street rents slightly accelerated.
  • Shopping mall rents were unchanged amid a gradual recovery in footfall, supported by sales and promotional campaigns to entice shoppers.