Big data changes life

  Hong Kong East saw the most notable decline, while Hong Kong South edged up due to adjustments in building baske

  Following the lifting of pandemic control measures at the end of 2022, China's consumer market has enjoved a strong rebound. Nationaltotal retail sales of consumer goods grew by 8.2% y-o-y in H1 2023, with the contribution rate of final consumption expenditure toeconomic growth reaching a record-high 77.2%. Domestic demand has emerged as the main engine of economic growth.

ln the first half of 2023, China's total retail sales of consumer goods increased by 8.2%year-on-year (y-o-y). Along with the upturn, we expect the retail market in Greater Chinato remain buoyant for the rest of the year. By Q2 2023, the total prime retail property stock in the core markets in the 16 majorcities in Greater China we track totalled 106.0 million sg m. ln China, many internationaand domestic brands either opened their first store or accelerated their expansion,demonstrating an increasing demand for retail space in the market. The total premiumcore city retail property net absorption across the Greater China market for the half yearwas 2.66 million sq m. With most mid- to high-end shopping centres remaining attractiveto many retailers, the overall vacancy rate in the 16 major cities in Greater Chinadecreased to 11.01%in Q2 2023. China's retail property market is and will continue to be a popular investment destinationfor investors, developers and retailers, given t

  Supply: After a quiet Q1, we observed a surge in Q2, marking the most significant half-yearly supply rise in the past five years. This momentum is predominantly driven by leading developers, with a considerable shift towards renovation projects. Demand: We're seeing a rejuvenation in sectors like dining, tourism, and entertainment. However, the fashion retail sector remains underwhelming. Key Indicators: A noteworthy development - the uptrend in vacancy rates we've tracked over seven quarters has come to a halt. While rates remain at a historic high, the decreasing pace of rents is decelerating, suggesting an upcoming market turnaround.