Hong Kong. Commercial leases under threat from protest unrest

As the protest movement in Hong Kong entered its eighth month in January 2020, high-end property owners and retailers continue to suffer collateral damage and are taking measures. In November 2019, visits from mainland Chinese tourists plunged by 58% from a year earlier, helping push retail sales down by 24%. Cushman & Wakefield has highlighted with data (ending in June 2019) that Russell Street in Causeway Bay’s district was the world’s priciest shopping street with annual rent rates of US$29,