Beijing’s retailers rebel against rent hikes, stalling any return to pre-pandemic levels

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Many retailers are sensitive to the slightest hike in rents in a stalling economy, putting pressure on landlords to to cut prices, said Sun Tin, director and head of research at CBRE North China.

That is the case at théATRE, a tea-and-dessert cafe in Beijing’s Sanlitun area that is aimed at middle-income families and white-collar consumers.

Net absorption in the suburban market reached 249,300 sq m in the second quarter, with the first-half figure nearing the full-year 2023 level.

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Article Details

Author / Journalist: Yuke Xie

Category: Business

Markets: Hong KongChina

Topics: Retail Rents Second Fashion Beijing Cent Beijing’s Retailers Quarter Rent Area

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-15 @ 07:30:11 (2 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 639 words

Reading Time: 4 minutes read

Sentences: 16 lines

Sentence Length: 40 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21617659

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