Jones Lang LaSalle Releases Retail Index - Asia Pacific Q3 2013..

JLL's ( Jones Lang LaSalle’s) new quarterly Retail Index lists rents of key high street retail  markets in the region

Strong demand for quality retail space, coupled with limited supply, has supported high street rents in prime Asia Pacific markets over the 3rd quarter of the year according to JLL’s inaugural quarterly Retail Index.

Key characteristics of high streets in the region’s other popular markets (as end of September 2013) include:

1. Linking Road, MUMBAI: US Dollar 1,548 per square meter per year

2. Connaught Place, DELHI: US Dollar  1,444 per square meter per year

While demand for retail space in the Indian cities of Mumbai and Delhi remains healthy, high street rents have stayed flat this quarter as economic uncertainty has seen retailers resisting rental increases.

3. Russell Street, HONG KONG: US Dollar 28,839 per square meter per year

Leading the region by some distance, Hong Kong high street rents are, on average, four times higher than closest competitor, Tokyo. However, growth has slowed in Q3 2013 as costly rents force retailers to look towards shopping centres in secondary locations.

4. Ginza, TOKYO: US Dollar 7,340 per square meter per year

Improved consumer sentiment and rising visitor arrivals continue to support the retail market in Japan with strong demand from luxury apparel brands and F&B retailers pushing Tokyo’s Ginza into second place in the list of the region’s most expensive high street rents.

5. West Nanjing Road, SHANGHAI: US Dollar 5,366 per square meter per year

Offering unrivalled visibility and a high-end atmosphere, West Nanjing Road in Shanghai continues to draw interest from new -to-market retailers who vie for limited space.

6. Orchard Road, SINGAPORE: US Dollar 4,713 per square meter per year

Often used as the entry point for expansion into other Southeast Asian markets, demand from international retailers for space on Singapore’s Orchard Road remains strong. However, tight supply of suitable space and rising operating costs are putting pressure on retailers who are increasingly looking to the city’s growing number of suburban shopping centres.

7. CBD, SYDNEY: US Dollar 3,273 per square meter per year

8. CBD, MELBOURNE: US Dollar 3,178 per square meter per year

9 . CBD BRISBANE: US Dollar 2,973 per square meter per year

As a result of slower spending in CBD retail markets coupled with more subdued demand for leasing, rents on Australia’s high streets have faced pressure in the third quarter of 2013 with increased supply from shopping centres further affecting pricing.

10. Queen Street, AUCKLAND: US Dollar 2,080 per square meter per year

While rising income levels, a growing population, and improved sentiment is driving demand for retail space on Auckland’s Queen Street, retailer margins for select discretionary categories remain tight as caution around personal finances persists. 

 For Media Contact

Mr. Arun Chitnis

Head – Corporate Communications & Media Relations

JLL India , Level 6, Amar Avinash Corporate Plaza, Bund Garden Road,

Pune  - 411 001.

Tel: 020 -  3093 0441 Fax no: 020 -  40196101

Mob: +91 96571 29999

Website: www.joneslanglasalle.co.in

Blog: www.joneslanglasalleblog.com/realestatecompass

Twitter: JLLIndia_Realty

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