A research produced by DTZ
Office market activities were mostly driven by mid-sized professional services companies and finance companies that were actively looking for office space for in-house expansion or consolidation purpose in the core districts. At the same time, cost conscious foreign FIRE sector related companies remained conservative.
As jewellery & watches retailers are the major tenants for first tier street shops, their retail sales and moves on the retail market would greatly affect rents. Due to the recent sluggish growth on retail sales, their affordability on rents has reduced significantly.
Source : DTZ