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Tourists and Brands Flock to High Streets

2013

Report

Anbieter: Colliers International

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  • Erscheinungsweise: Jährlich
  • Berichtszeitraum: Jahr 2013
  • Erscheinungsdatum : 01.11.2013
  • Seiten : 20 Seiten
  • Datei-Typ : PDF-Datei
  • Größe : 5,20 MB
  • Sprache(n) : Englisch

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Inhalt

  • Slower economic growth in China did not make a lasting dent on tourist spending in Hong Kong. Retail sales have rebounded from the lows of Q3 2012. The latest figures from the Hong Kong Tourism Board show that Hong Kong received a total of 12.5 million inbound visitors during the three-month period ending May 2013, an 11.8% year-over-year increase. Nine million of those visitors were from Mainland China.
  • Combined with the arrival of international brands such as Apple, Zara, and Topshop, in addition to luxury brands expanding their presence, the Australian CBD is once again a popular shopping destination. Pitt Street Mall in Sydney was ranked the 8th most expensive in Colliers' High Street survey.
  • Demand for flagship space in London continues to exceed supply, driven largely from international retailers seeking a share of the spoils. This is leading to some notable rental growth in the West End's core locations, with Regent Street witnessing double digit annual rental growth.
  • São Paulo and Rio de Janeiro remain leaders in shopping quality and diversity, achieving the most expensive rents and the focus of growth for luxury brands. Brazil's High Street rents are the most costly in Latin America. São Paulo's luxury shopping street Rua Oscar Freire saw a 15% growth in asking rents over the previous year. Rua Garcia D´Avila in Rio de Janeiro saw rents grow by 6.7%.
  • Most U.S. high street rents grew over last year. In New York, Fifth Avenue rents grew by 11 percent. At $3,052 per square foot, Fifth Avenue rents are the most expensive in the world. On Las Vegas Boulevard, asking rents grew by 25 percent. Philadelphia's Walnut Street showed the biggest gains in the U.S., with 33.8 percent growth.

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