Fifth Avenue in New York, and two main streets in Hong Kong (Queen's Road Central and Tsim Sha Tsui) became the most expensive shopping streets in the world. Rental of retail space there costs from $32,817 to $21,441 per year. Tverskaya Street in Moscow ranked 11th with price of $7,987 per year, reports ee24.com citing research consulting company Colliers International.
Rental price in the most expensive retail streets in the world has risen in 2013 after international luxury brands entered new markets and the demand in the major tourist areas increased. According to analysts, the rental rates have increased over the year in 69 of 129 prestigious shopping streets in the world.
The most expensive shopping streets of the world in 2013, the cost per square meter per year:
- New York, Fifth Avenue - $32,817
- Hong Kong, Queen's Road Central - $22,441
- Hong Kong, Canton Road , Tsim Sha Tsui - $21,441
- New York, Madison Avenue - $14,247
- London, Old Bond Street - $13,151
- Hong Kong, Causeway Bay - $11,978
- Zurich Bahnhofstrasse - $10,000
- Sydney, Pitt Street mall - $9,366
- Milan , Via Montenapoleone - $8,989
- Paris , Champs Elysees - $8,968
- Moscow, Tverskaya street - $7,987
Photo: sculpture of Roosevelt and Churchill on the bench was installed in London's Old Bond Street in 2005