Mainland Chinese retailers struggle to survive Hong Kong’s sky-high rents, competition

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Mainland Chinese retailers struggle to survive Hong Kong’s sky-high rents, competition - SCMP

Quick Summary:

People pass by a closed shop in Mong Kok The city’s famously high property rents are a constant threat to the survival of retailers.

In a post issued recently on its official Redbook account, LMM said the rents for its Hong Kong stores ranged between HK$36,000 and HK$130,000, while labour costs range from HK$60,000 to HK$80,000 per month.

JLL data shows that rents for high street shops in prime districts rose 15 per cent in the first quarter from a year earlier, with Tsim Sha Tsui seeing the highest increase.