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Colliers Quarterly | Q2 2021 | Retail

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Hong Kong Mid Year Market Outlook 2021 RS 1536x1040

High-street rent has bottomed out

Retail sales grew by 11.2% YOY in Q2 2021 from the low base of last year, driven by strong growth in apparel, luxury goods and electrical goods. Backed by the higher vaccination rate, eased social distancing measures and the rollout of the Consumption Voucher Scheme, the worst has passed for the retail sector as we see high street rents bottom out. 

Insights and recommendations:

  • We expect retail market sentiment will continue to recover gradually in H2 2021
  • Retail sales will be dependent on local consumption over the next one to two years

To see what could be for you in the retail sector, talk to our experts today.


Hong Kong Mid Year Market Outlook 2021 RS 1024x972

Colliers Quarterly | Q2 2021 | Retail

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Related Experts

Cynthia Ng

Executive Director

Retail Services

Hong Kong

Cynthia Ng is an award-winning retail services veteran with more than 14 years’ experience.  Cynthia was educated in Sydney and holds a bachelor degree in Construction Economics (Quantity Surveying) from University of Technology, Sydney.  She started her career with major developers in Sydney and has spent the last 11 years in Hong Kong with global property agencies working across all key retail sectors and high-profile fashion, F&B and international FMCG brands.

As Executive Director of Retail Services, Cynthia leads the successful operation of the retail brokerage business, meeting the needs of the company and her clients, while cultivating a team with the best leasing advisory and negotiating skills.

Prior to joining Colliers, she worked in CBRE as Director of Hong Kong Retail, with a key focus on international brands entering and expanding in Hong Kong. In 2015 she won the ‘Excellence in retail services’ award from CBRE, recognising her achievements in business.

 

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Rosanna Tang

Head of Research, Hong Kong & Greater Bay Area

Research

Hong Kong

Rosanna Tang leads the research team in Hong Kong and South China in Colliers. Driving different research papers and client-orientated initiatives, Rosanna has a deep understanding of all property sectors, research products, and client requirements. Rosanna is also one of the spokespersons in the company, and she frequently speaks in different industry events and media interviews. 
 

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