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Colliers Quarterly | Q2 2022 | Retail

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Hong Kong Quarterly Q1 2022 RET 1536x1040

A sanguine rebound in H2

The retail market faced a rocky start in early 2022 as most remain cautious with the outbreak of the fifth wave of the pandemic and subsequent social distancing rules. Looking ahead, the upcoming consumption voucher distribution (Phase II) in August and the likelihood that the city’s rules for incoming travelers to be further relaxed may support the retail ambience in H2 2022.

Key highlights

  • Core high street shop rents adjusted downward in Q2 by 0.4% QoQ, resulting in a -2.4% YTD rental drop in H1 2022
  • Local consumption will remain the key purchasing power, with more F&B brands expected to enter the market along with supermarkets, home living and leisure, which will all remain as key leasing demand drivers.
  • The full year’s retail rental recovery is expected to be within 5% in 2022

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Colliers Quarterly | Q2 2022 | Retail

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Related Experts

Cynthia Ng

Executive Director | Head of Retail Services

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


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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