Shops for Rent on Luen Wan Street, Hong Kong

Why rent a shop on Luen Wan Street, Mong Kok, Hong Kong?

Renting a shop on Luen Wan Street in Hong Kong offers a strategic advantage due to its location in the bustling Yau Tsim Mong District, known for high foot traffic and proximity to major transport links such as bus stops and government offices. This vibrant area attracts diverse consumer demographics, making it ideal for retail businesses seeking visibility and accessibility. Additionally, being in a well-established commercial district enhances brand exposure and customer reach, which are critical for business growth in Hong Kong’s competitive market. Renting a shop here allows entrepreneurs to capitalize on the dynamic urban environment and the steady flow of local and tourist shoppers.

How much does it cost to rent a shop on Luen Wan Street, Mong Kok, Hong Kong?

The cost to rent a shop on Luen Wan Street in Mong Kok, Hong Kong varies significantly depending on the size, location, and condition of the property. As of 2024, ground floor retail spaces on Luen Wan Street typically range from HKD 80 to HKD 200 per square foot per month, with prime locations near Nathan Road commanding higher rates. A small 200-300 square foot shop can cost between HKD 16,000 to HKD 60,000 monthly, while larger retail units of 500-800 square feet may rent for HKD 40,000 to HKD 160,000 per month. The rental prices on Luen Wan Street are influenced by foot traffic, proximity to MTR stations, and the commercial viability of the area. Upper floor retail spaces generally cost 20-40% less than ground floor units. Potential tenants should also budget for additional costs including rates, management fees, air conditioning charges, and typically a 2-3 month security deposit when renting commercial property in Mong Kok. Due to Hong Kong's dynamic property market, it is recommended to consult with local commercial real estate agents for current market rates and available properties on Luen Wan Street.

What's the foot traffic like on Luen Wan Street, Causeway Bay, Hong Kong?

Luen Wan Street in Causeway Bay, Hong Kong experiences moderate to high foot traffic throughout the day, particularly during peak shopping hours and weekends when the area attracts both locals and tourists exploring the vibrant Causeway Bay district. The foot traffic on Luen Wan Street is consistently busy due to its strategic location near major shopping centers, restaurants, and the Causeway Bay MTR station, making it a popular pedestrian route for commuters and shoppers. During weekdays, the street sees steady pedestrian flow from office workers and residents, while evenings and weekends bring increased foot traffic as people visit the numerous dining establishments and retail outlets along Luen Wan Street. The pedestrian volume tends to peak during lunch hours, after-work periods, and weekend afternoons, reflecting the street's role as an important commercial and dining destination in the heart of Causeway Bay. Visitors to Luen Wan Street can expect a bustling urban atmosphere typical of Hong Kong's busy commercial districts, with foot traffic levels remaining relatively high year-round due to the area's popularity among both local Hong Kong residents and international tourists exploring Causeway Bay's shopping and dining scene.