Hefty Price Tags: The Most Expensive Places In The World To Be A Retailer
New York’s Upper 5th Avenue is the world’s most expensive retail street, according to new research, although rents have fallen on the upmarket shopping street for the first time since the financial crisis. Analysis of the cost of renting shop space in the world’s biggest cities carried out by Cushman & Wakefield found that Hong Kong’s Causeway Bay came in a close second, followed by Avenue des Champs Élysées in Paris, then London’s New Bond Street. Justin Taylor, Cushman & Wakefield’s head of retail for Europe, Middle East and Asia, said: “Demand is strong for the right space in the right location and the lack of supply along the majority of Europe’s main thoroughfares is seeing rents rise further and expanding the boundaries of well-established streets. Read more at The Telegraph.
