Global retail rents remain resilient with a 3.2% average increase recorded for prime locations, according to the 25th anniversary edition of Cushman & Wakefield’s Main Streets Across the World 2013 report.
Global retail rents remain resilient with a 3.2% average increase recorded for prime locations, according to the 25th anniversary edition of Cushman & Wakefield’s Main Streets Across the World 2013 report.
Hong Kong’s Causeway Bay has maintained its position as the world’s costliest retail location for the second year running and breaks through the $3,000 per sq ft barrier for the first time in the history of the report.
New York’s Fifth Avenue and Avenue des Champs-Élysées in Paris, which saw nearly a 40% rental rise, hold on to second and third place respectively
With continued demand from international luxury brands, rents in London’s New Bond Street increased by more than 15% as the location climbed from sixth to become the fourth most expensive shopping street in the world.
The Americas showed the strongest regional growth with prime rents increasing by 5.8%, Cushman & Wakefield said.
Cushman & Wakefield 's report can be accessed here
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