Hong Kong, China – When Pinky Yeung secured a 1,400-square-metre (16,000 sq ft) retail space in Hong Kong’s prime shopping district of Tsim Sha Tsui in 2020, the fitness trainer thought she had hit the jackpot.
In one of the world’s most expensive rental markets, Yeung’s monthly rent of 500,000 Hong Kong dollars ($64,100) was about half of what she would have paid a few years earlier – the result of prices tumbling to a decade low amid the COVID-19 pandemic.
