# Hong Kong retail leasing reaches nearly half of 2025 full-year total

- **Source:** Real Estate Asia
- **Published:** 2026-07-14T00:07:20.000Z
- **Author:** Staff Reporter
- **Original:** https://realestateasia.com/commercial-retail/news/hong-kong-retail-leasing-reaches-nearly-half-2025-full-year-total
- **Topics:** Commercial & Industrial, Transactions & Deals, Regional Markets

## Featured rationale

Stronger tourism, retail sales and tenant demand may further reduce high-street vacancy and support gradual prime-rent growth as retailers reposition their store networks.

## AI summary

Hong Kong core-district retail leasing volume jumped 55% quarter-on-quarter to 337,100 sq ft in Q2 2026, bringing H1 activity to 48% of 2025’s total.

## Original article

Leasing volume reached 337,100 sq ft in Q2 alone.

Hong Kong's retail market continued to recover in the second quarter of 2026, supported by stronger tourist arrivals, rising retail sales and healthy leasing demand, according to CBRE.

Retail sales grew 8.6% year-on-year (y-o-y) in April and 7.9% in May, extending a 13-month growth streak after expanding 12.1% in Q1. Visitor arrivals also remained supportive, rising 9.1% y-o-y following 17% growth in the first quarter.

CBRE noted leasing activity in core shopping districts accelerated, with leasing volume jumping 55% quarter-on-quarter to 337,100 sq ft. This brought H1 leasing activity to 48% of the full-year total achieved in 2025.

Food and beverage operators accounted for around one-third of leasing demand during the quarter, while fashion remained the second most active sector amid expansion by mainland Chinese brands. The cosmetics segment also recorded its strongest leasing quarter since Q2 2023.

Improving occupancy pushed vacancy for high street shops in core districts down 0.3 percentage points to 6.5%, the second-lowest level since late 2019. Prime street rents rose 1.0% q-o-q, extending growth to a sixteenth consecutive quarter and bringing year-to-date rental growth to 1.8%.

CBRE expects prime retail rents to continue growing gradually as vacancy declines and retailers continue to reposition their store networks in response to evolving consumer demand.

## Chinese translation

> Translation model: grok

### 香港零售租赁量接近2025年全年总量的一半

在游客到访量回升、零售销售增长及租赁需求稳健的支撑下，香港零售市场在2026年第二季度持续复苏。

仅第二季度租赁量即达337,100平方英尺。

世邦魏理仕（CBRE）称，在游客到访量增强、零售销售上升及租赁需求健康的支撑下，香港零售市场在2026年第二季度持续复苏。

零售销售在4月同比增长8.6%，5月增长7.9%，在第一季度扩张12.1%后，将增长势头延续至第13个月。游客到访亦保持支撑，在第一季度增长17%后，同比上升9.1%。

CBRE指出，核心购物区租赁活动加快，租赁量环比跃升55%至337,100平方英尺。这使得上半年租赁活动达到2025年全年总量的48%。

餐饮营运商约占当季租赁需求的三分之一；在中国内地品牌扩张下，时装仍为第二活跃板块。化妆品板块亦录得自2023年第二季度以来最强的租赁季度。

入住率改善推动核心区高街商铺空置率下降0.3个百分点至6.5%，为2019年底以来第二低水平。优质临街租金环比上涨1.0%，将连续增长延续至第16个季度，年初至今租金累计增长1.8%。

CBRE预计，随着空置率下降、零售商因应消费需求变化继续调整门店网络，优质零售租金将继续逐步上升。