# World's most expensive shopping streets ( rental prices)



## e888 (Aug 2, 2005)

According to a study carried out by Cushman& Wakefield and by Healy& Baker -two of the world's leaders in the Real Estate sector- these are the *world's most expensive shopping streets ( as to what rental price per year and per square meter is related)*



* ( Currency exchange rate 1 € = 1.19260 US $ )


1- New York City ( USA ) - Fifth Avenue- 11558 € / 13784 U.S $












2- Hong Kong ( HK) - Causeway Bay- 9625 € / 11478,7 US $












3- Paris ( France) - Champs Elysées - 6628 € / 7904 , 55 US $












4- London ( UK ) - New Bond Street - 5578 €/ 6652,32 US $












5- Tokyo (Japan)- Ginza - 4607 € / 5494,30 US $












6- Dublin ( Ireland) - Grafton Street 3653 € / 4,356.56 US $












7- Sydney ( Australia) - Pitt Street Mall 3145 € / 3750, 72 US $












8- Seoul (South Korea ) - Myeong Dong - 3109 € / 3707,79 US $












9- Munich ( Germany ) - Kaufingerstrasse - 3000 € / 3577,80 US $












10- Zürich ( Switzerland ) - Bahnhofstrasse - 2901 € / 3,459.73 US $












11- Moscow ( Russian Federation) - Tiverskaya - 2808 € / 3,348.82 US $












12- Athens ( Greece ) - Ermou - 2400 € /2,862.24 US $












13- Madrid ( Spain ) - Calle Preciados 2304 € / 2,747.75 US $


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## _00_deathscar (Mar 16, 2005)

It's weird that Causeway Bay is 2nd...

I always got the impression that the shops along Central would cost more to rent...like near Prince's Building and so on...

But guess not.


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## earthJoker (Dec 15, 2004)

Was that the ugliest pic from the Bahnhofstrasse you can get?


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## e888 (Aug 2, 2005)

I thought it was a nice pic...

Changed it anyway.


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## CHI (Apr 17, 2004)

Where the hell is Rodeo Drive in Beverly Hills?


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## silly thing (Aug 9, 2004)

hong kong's rent is increasing very fast in the recent 2 years since the economic boom


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## Marathoner (Oct 1, 2005)

If more than one district/street in a city can be included in the ranking.
Sai Yeung Choi Street in Mongkok of HK should be the 3rd place after Causeway Bay of HK. The rent must be more expensive than that of Paris - Champs Elysées, more than US$8,000.

The difference between the most expensive shopping streets of HK and NYC/Paris is that HK only sell ordinary stuff or food (from low price to mid-price only). While that of NYC/Paris mostly sell high-end products.

That's possible in HK because of the extreme density and crowded shopping conditions. The transaction frequency/turnover is so extreme that can support the crazy rent.


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## George_Castanza (Jul 17, 2004)

*Ro-DAY-ooh -- dey-ey-eyooh -- Daylight come an' me won gold throne...*



> Where the h*ck is Rodeo Drive?


Drive your Ferrari East on Wilshire to the corner of Wilshire Blvd and N Beverly Drive -- now, stop, put it in reverse and back up against traffic one block -- turn left and you and your new friends, following noisily, will be on Rodeo Drive.

Welcome. :cheers:


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## e888 (Aug 2, 2005)

CHI said:


> Where the hell is Rodeo Drive in Beverly Hills?



In Rodeo Dr.there's few stores to rent- the stores on Rodeo Dr.are mostly owned (that's why it's not on the list).


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## CHI (Apr 17, 2004)

e888 said:


> In Rodeo Dr.there's few stores to rent- the stores on Rodeo Dr.are mostly owned (that's why it's not on the list).


Gotcha


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## satit28 (Mar 9, 2005)

what bout milan???..........


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## fcom1 (Nov 29, 2004)

Milan, Rome, Venice??


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## Taller Better (Aug 27, 2005)

CHI said:


> Where the hell is Rodeo Drive in Beverly Hills?


You can find it easily on a city map! :jk:
The only one that really shocked me was Dublin. Seems way overpriced.


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## earthJoker (Dec 15, 2004)

e888 said:


> I thought it was a nice pic...
> 
> Changed it anyway.


Tnx


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## LosAngelesSportsFan (Oct 20, 2004)

e888 said:


> In Rodeo Dr.there's few stores to rent- the stores on Rodeo Dr.are mostly owned (that's why it's not on the list).


never thought of that! that explains it. im sure it would be in the top 5 if it was rentals.


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## XCRunner (Nov 19, 2005)

What about North Michigan Avenue?


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## Marcio4Ever (Sep 27, 2005)

SP ????


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## hkskyline (Sep 13, 2002)

*New York's Fifth Avenue is the world's most expensive shopping destination*
26 Oct, 2005, London
http://www.cushwake.com/cwglobal/jsp/newsDetail.jsp?repId=ca2400027&clkNew=-1

The cost of retail space in the world's top shopping destinations has gone up by an average of 8 per cent over the past year, with New York's Fifth Avenue being the world's most expensive shopping location, says Main Streets Across the World, an annual report by Cushman & Wakefield Healey & Baker (C&W/H&B), the European division of the world's largest privately held real estate services firm, Cushman & Wakefield.

"The international race for space is continuing unabated. A growing number of global brands are vying for limited space on the pavements of the world's top shopping destinations, whether Paris's Avenue des Champs Elysées or London's New Bond Street. This in turn is pushing up rents," says Darren Yates, C&W/H&B's Head of Market Analysis.

Main Streets Across the World 2005 tracks retail rents in the world's top 237 shopping locations across 47 countries around the world. The report's global league table is drawn up by taking the most expensive location in each of the countries monitored.

"The hottest stretch of Fifth Avenue is north of 49th Street," says Gene Spiegelman, Executive Director, Retail Services, Cushman & Wakefield in New York. "We are seeing luxury brands being joined by the popular fast-fashion brands, all in search of global brand recognition."

The most notable arrival this year in Fifth Avenue is Abercrombie & Fitch, which has taken over the 470-square-metre Fendi unit at 720 Fifth Avenue, following on the heals of Zara's lease last year of its Fifth Avenue flagship store. Abercrombie & Fitch joins the likes of Louis Vuitton, Prada, Gucci and Asprey, alongside Gap and H&M.

In second position, after New York's Fifth Avenue, is Causeway Bay in Hong Kong, which this year has leapfrogged Paris' Avenue des Champs Elysées. "Retail rents in Hong Kong have increased sharply on the back of an improved Asia economy, an influx of tourists from the rest of China, as well as recovery in visitor numbers from Europe and North America," says James Fisher, General Manager of Cushman & Wakefield's Hong Kong office.

Only 18 locations out of the 237 monitored in Main Streets show a fall in rents in local currency terms, with the remainder either seeing rents stable or growing. On a regional basis, rents increased fastest in Asia Pacific, with Hong Kong's Causeway Bay recording 90 per cent growth year on year, followed by Tokyo?s Ginza district, a favourite with cross-border luxury brands.

Some of the strongest rental growth has also been in São Paulo in Brazil, where the best shopping centres have recorded rental growth of up to 40 per cent. "A healthy consumer demand is behind the strong performance of Brazil's retail sector," says Marina Cury, Cushman & Wakefield's Head of Retail Services in South America. "In terms of the sector's expansion and modernisation, shopping centres are leading the way, with cross-border retailers starting to line up to enter what is Latin America?s biggest economy."

The biggest rental rises in Europe have been in Købmagergade in the Danish capital of Copenhagen, where rents have gone up 40 per cent in local currency terms. Outside the Nordic region, rents in Budapest's main Váci utca high street, Moscow's Novy Arbat Street and London's New Bond Street have all gone up 25 per cent when measured in local currency.

Looking forward, David Hutchings, C&W/H&B's Head of Research, says: "Emerging markets such as China and India are the ones to watch as they start to dismantle barriers to foreign investment, and hence become more attractive to cross-border retailers and developers. In more developed markets, new developments coming on stream will not only improve the quality of retail space but also provide a greater choice for retailers and consumers."


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## Steelblade (Nov 25, 2005)

so NY is most expansive, no wonder, folks have tons of money over there


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## Intoxication (Jul 24, 2005)

wat abt Oxford st in London?


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## AngloStyle2 (May 7, 2005)

NYC is the heart of the world.


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## Mr Bricks (May 6, 2005)

^^??

Shouldn´t oxford street be on that list?


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## Marathoner (Oct 1, 2005)

SuomiPoika said:


> ^^??
> 
> Shouldn´t oxford street be on that list?


I judge only one district/street is included in each city in this list.
If not, HK can have 2 in the top 5 list.


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## Nick (Sep 13, 2002)

I always thought it was the Ginza in Tokyo as number one.Anyway.The list is probably correct.Dublin is a big surprise coming in just before Sydney and in the top ten


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## tocoto (Jan 18, 2003)

"According to a study carried out by Cushman& Wakefield and by Healy& Baker -two of the world's leaders in the Real Estate sector- these are the world's most expensive shopping streets ( as to what rental price per year and per square meter is related)"

I think the original post is looking at selected cities. By the above definition Newbury Street in Boston, with rents in the upper $40's per square foot, would come out to....

$47/sqft/mo x 9sqft/m x 12mo = $5076.00

This would but it high in the rankings. Other retail streets in wealthy US cities would easily make this list as well.


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## Marathoner (Oct 1, 2005)

tocoto said:


> "According to a study carried out by Cushman& Wakefield and by Healy& Baker -two of the world's leaders in the Real Estate sector- these are the world's most expensive shopping streets ( as to what rental price per year and per square meter is related)"
> 
> I think the original post is looking at selected cities. By the above definition Newbury Street in Boston, with rents in the upper $40's per square foot, would come out to....
> 
> ...


This level of rent is achieved in a number of places in HK, not just Causeway Bay & Mongkok. If the list also contains malls, HK will have A LOT.

If you consider the average usable area rate in HK is only 70% to 80%, the "actual" rent would be much higher


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## Marcio4Ever (Sep 27, 2005)

Oscar Freire - São Paulo(Brazil)


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## mopc (Jan 31, 2005)

The Korean one is quite unattractive.


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## bnmaddict (Jan 6, 2005)

mopc said:


> The Korean one is quite unattractive.


Yep, it's amazing people would pay so much to have a window between two neons in such a narrow street!?!


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## Taller Better (Aug 27, 2005)

There is something mildly amusing about people slugging it out for the honour of
having the most expensive rental in a shopping area!! 
It is a dubious honour, at best.


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## Dokebi (Nov 30, 2005)

bnmaddict said:


> Yep, it's amazing people would pay so much to have a window between two neons in such a narrow street!?!


you guys are judging from a picture? haha....take a look at the korea forums to look at myeongdong...its no just a narrow street...that picture displayed is more like one of the alley ways in myeong dong...or better yet, could anyone post pictures of myeongdong from the korea forum? im too lazy


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## Macca-GC (May 20, 2004)

I'm surprised at Pitt Street, Sydney. I would have thought something along the lines of Queen Street, Brisbane or Cavill Avenue, Gold Coast. The McDonald's on the corner of Cavill and the Esplanade is the most expensive retail space in Australia. AU$16,000/sq. metre.


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## kub86 (Aug 13, 2004)

Yeah...I never expected to see Dublin on here...the guy in the picture was cute though. He's my type. And where's Milan and Rome on the list? I guess the rents just weren't high enough?


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## hkskyline (Sep 13, 2002)

*Myeong-dong, Seoul*



Dokebi said:


> you guys are judging from a picture? haha....take a look at the korea forums to look at myeongdong...its no just a narrow street...that picture displayed is more like one of the alley ways in myeong dong...or better yet, could anyone post pictures of myeongdong from the korea forum? im too lazy


More photos : http://www.skyscrapercity.com/showthread.php?t=293923


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## pakboy (Apr 22, 2004)

wats that shanky street in dublin doing on the list

and were is oxford street, london and orhard road, singapore.


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## Marathoner (Oct 1, 2005)

pakboy said:


> wats that shanky street in dublin doing on the list
> 
> and were is oxford street, london and orhard road, singapore.


Only the most expensive street in each city is selected. Oxford Street is not the most expensive street in London as shown on the list.


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## Monkey (Oct 1, 2002)

The photo of New Bond Street is not of Bond Street! :nono:


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## urbane (Jan 4, 2005)

marcio4ever said:


> Oscar Freire - São Paulo(Brazil).......


For being a high-end retail street, they should get rid of the overhead utility lines.


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## Marathoner (Oct 1, 2005)

The most expensive streets in HK are not selling high-end products. Just selling ordinary or mid-priced stuffs. No Gucci, no LV, no Channel.......

HK's most expensive streets are done by extreme turn-over.


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## Manila-X (Jul 28, 2005)

Marathoner said:


> The most expensive streets in HK are not selling high-end products. Just selling ordinary or mid-priced stuffs. No Gucci, no LV, no Channel.......
> 
> HK's most expensive streets are done by extreme turn-over.


Causeway Bay is considered the most expensive in HK but there are some areas in Causeway Bay that sell high-end products like the ones in Times Square or Lane Crawford


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## Marathoner (Oct 1, 2005)

WANCH said:


> Causeway Bay is considered the most expensive in HK but there are some areas in Causeway Bay that sell high-end products like the ones in Times Square or Lane Crawford


Is the rent inside the mall (Times Square) calculated in the list?
I suppose it only caculates the rent of the shops in streets. Please advise WANCH!

Still, the most expensive shop in Causeway Bay should not be selling high-end products because Russell Street is the most expensive which are mostly selling mid-priced or ordinary stuffs or food.

Sai Yeung Choi Street in Mongkok is another most expensive street which have no high-end products.


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## Manila-X (Jul 28, 2005)

Marathoner said:


> Is the rent inside the mall (Times Square) calculated in the list?
> I suppose it only caculates the rent of the shops in streets. Please advise WANCH!
> 
> Still, the most expensive shop in Causeway Bay should not be selling high-end products because Russell Street is the most expensive which are mostly selling mid-priced or ordinary stuffs or food.
> ...


Now there's an issue there 

If the list include rents in shopping malls, streets and any other commercial building. There are some stores in Causeway Bay or any other area in HK that rent space in the upper levels of commercial buildings or flats like the ones on the 2nd or 3rd floors.


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## Westsidelife (Nov 26, 2005)

George_Castanza said:


> Drive your Ferrari East on Wilshire to the corner of Wilshire Blvd and N Beverly Drive -- now, stop, put it in reverse and back up against traffic one block -- turn left and you and your new friends, following noisily, will be on Rodeo Drive.
> 
> Welcome. :cheers:


ugh.


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## Manila-X (Jul 28, 2005)

Another thing, Russell St. may be the most expensive in Causeway Bay but when I look at it, it doesn't matter if the store is high-end or not. A huge population of HK aren't that wealthy and don't want to spend much on those high-end good. Put it in another way, alot of them buy stuff they can afford or are practical. Thus there is more market in selling ordinary products than the high-end ones.

Causeway Bay is a prime shopping area and alot of retail business whether high-end or not would want to have a piece of the pie


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## Westsidelife (Nov 26, 2005)

Rodeo Drive isn't a long piece of road. So it can easily be at the top of the list.


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## Manila-X (Jul 28, 2005)

Westsidelife said:


> Rodeo Drive isn't a long piece of road. So it can easily be at the top of the list.


It already said in the 1st section, most shops in Rodeo Drive are owned not rented!


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## Marathoner (Oct 1, 2005)

WANCH said:


> Another thing, Russell St. may be the most expensive in Causeway Bay but when I look at it, it doesn't matter if the store is high-end or not. A huge population of HK aren't that wealthy and don't want to spend much on those high-end good. Put it in another way, alot of them buy stuff they can afford or are practical. Thus there is more market in selling ordinary products than the high-end ones.
> 
> Causeway Bay is a prime shopping area and alot of retail business whether high-end or not would want to have a piece of the pie


Yes, Causeway Bay do have a high-end street called Yun Ping Road. Most premier brands are located there. Gucci, Prada, Channel........ But this is not the most espensive street in Causeway Bay.

But I still remember one shop somewhere in Causewau Bay do broke the world record of rent in 1997 and still keep this record. If my memory is not wrong, this is a very small shop of about 20 to 30 square foot at the most busy corner in Causeway Bay, selling fast snack. The rent I remember(can't remember the exact figure) should be over HK$100,000 per month. It should be well-over US$60,000 per square meter per year!


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## Manila-X (Jul 28, 2005)

Marathoner said:


> Yes, Causeway Bay do have a high-end street called Yun Ping Road. Most premier brands are located there. Gucci, Prada, Channel........ But this is not the most espensive street in Causeway Bay.
> 
> But I still remember one shop somewhere in Causewau Bay do broke the world record of rent in 1997 and still keep this record. If my memory is not wrong, this is a very small shop of about 20 to 30 square foot at the most busy corner in Causeway Bay, selling fast snack. The rent I remember(can't remember the exact figure) should be over HK$100,000 per month. It should be well-over US$60,000 per square meter per year!


Now that's crazy! But I hope the owner gets alot of hungry costumers


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## Marathoner (Oct 1, 2005)

WANCH said:


> Now that's crazy! But I hope the owner gets alot of hungry costumers


I think the rent is now lower la! after the 97' bubble. Better check with some property agents.


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## Manila-X (Jul 28, 2005)

By the way, I don't even consider Yun Ping Road that high-end. Most of the high-end shops must be located in Lee Gardens which is in that area.


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## _00_deathscar (Mar 16, 2005)

WANCH said:


> A huge population of HK aren't that wealthy and don't want to spend much on those high-end good.


Odd that you mention that - because Hong Kong is arguably the world's most 'brand concious' city.


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## Mr Bricks (May 6, 2005)

"The photo of New Bond Street is not of Bond Street!"

What street is it?


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## Marathoner (Oct 1, 2005)

WANCH said:


> Now that's crazy! But I hope the owner gets alot of hungry costumers


I worked for a famous sports brand in the past. Most of my customers were the retailers in this expensive streets. We always joked with them that their shops must be "selling HEROIN", if not, how can they pay such high rent?


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## Westsidelife (Nov 26, 2005)

WANCH said:


> It already said in the 1st section, most shops in Rodeo Drive are owned not rented!


yes. what i meant was if it wasn't the way it is, then it could easily be at the top.


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## andypandy (Apr 28, 2004)

Taller said:


> You can find it easily on a city map! :jk:
> The only one that really shocked me was Dublin. Seems way overpriced.


Dublin is very expensive city. Not surprised by that at all, in fact in some surveys/years Grafton St has been 4th most expensive.


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## Manila-X (Jul 28, 2005)

_00_deathscar said:


> Odd that you mention that - because Hong Kong is arguably the world's most 'brand concious' city.


True but I'm one of those Hongkions who are not! Except for Bathing Ape and a few other brands  But again, brands come in in different status whether they're high-end or not 

Marathoner, its all good man  By the way, If I was a store owner whether I'm selling high-end good or not, why not pay extra $$ if you're going to get alot of customers in this area


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## TheOingoBoingoBandit (Mar 16, 2005)

SuomiPoika said:


> "The photo of New Bond Street is not of Bond Street!"
> 
> What street is it?



Kensington High Street.


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