Luxury Retailers Scramble for Prime Real Estate in China
Despite a continuously growing demand for luxury items in China, high-end brands are having a hard time keeping up because there is a shortage of prime real estate in the nation.
Image: msnbc.msn.com
Despite a continuously growing demand for luxury items in China, high-end brands are having a hard time keeping up because there is a shortage of prime real estate in the nation.
CBRE Commercial Research reports that four our of the five fasting-growing real estate markets are in China, making it especially difficult for luxury brands like Louis Vuitton, Burberry and others to expand. With limited prime commercial retail space that is up to standard, many of the brands are refusing to settle for “up-and-coming neighborhoods.”
Despite this predicament, many middle-class shopping malls are being built in China and the country continues to be a dominant force in the luxury and retail markets.
Source: Business Insider
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