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Hong Kong Loses Top Ranking for Luxury Shopping to New York

Hong Kong’s retail landlords are bracing for a further squeeze on the lowest rents in more than a decade as tenants seek relief in the aftermath of the city’s worst Covid outbreak.
Hong Kong no longer has the world’s most-expensive retail district after rents plummeted due to Covid curbs and restrictions on visitors. (Shutterstock)

Hong Kong no longer has the world’s most-expensive retail district after rents plummeted due to Covid curbs and restrictions on visitors.

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