2015 opens window of opportunities for retailers and landlords

Due to more sustainable retail sales levels.

Despite an overall negative market sentiment, there is potential for both retailers and landlords to regain confidence in the market by the beginning of 2015 with retail sales approaching more sustainable leves.

According to a report from CBRE entitled "Hong Kong Prime Retail MarketView 2Q14," the retail market should pursue its rental correction with tier-1 rent remaining stable.

Meanwhile, tier-2 rents are expected to drop by up to 15 percent over the year.

In the coming quarters, international aspirational and mid-range retailers should drive the demand for new spaces.

CBRE said that this is in response to the growing demand from Mainland China shoppers for mid-to-lower priced goods.