Fresh concepts lift Hong Kong retail property as tourists and consumers return

Hong Kong’s retail property market is gradually building momentum as spending and confidence of consumers and tourists return, according to analysts.Unlike the city’s past peak rental levels, however, this time the tenant mix was more diversified, with retailers offering unique experiences and products that enhanced their appeal to shoppers, they said.“We see structural shifts towards more experience-driven and diversified tenant mixes, rather than a full return to past peak rental levels,” said Kathy Lee, head of research and retail consultancy at Colliers. “While rents are forecast to grow modestly, a broad-based rebound to pre-COVID-19 levels is unlikely in the near term.”