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Asia Pacific Retail Trends Q1 2025
April 16, 2025 5 Minute Read
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- Although domestic consumption in Korea remained sluggish in Q1 2025 on the back of the weaker Korean won and decline in foreign tourists amid recent political instability, competition for space in prime locations intensified. Active sectors include affordable premium brands, second-hand luxury stores, local cosmetics retailers and family restaurants.
- In mainland China, landlords remain willing to offer attractive incentives as the market continues to favour tenants. Prime shopping centres in core locations are performing well and have a long waiting list of potential tenants, but non-prime assets continue to struggle. Expansionary demand is highly concentrated on tier I cities, with significantly fewer requirements for tier II cities.
- Australia is seeing improved retail sentiment, supported by an increase in consumer confidence and growth in retail sales. Shopping centre rents are rising again, with both regional and sub regional centres doing well. Major events and good quality F&B is driving demand for CBD retail space, especially in Victoria and South Australia, where vacancy is tightening.
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Business Contacts
Luke Moffat
Regional Managing Director, Head of Leasing, Advisory Services, Asia Pacific
Vivek Kaul
Managing Director, Head of Retail Leasing, Advisory Services, Asia
Ryan Kim
Head of Retail, Advisory & Transaction Services, Korea
Alex Lee
Senior Manager, Retail Occupier, Advisory & Transaction Services, Korea
