New York’s Upper 5th Avenue, the most expensive retail street in the world

New York’s Upper 5th Avenue remains the world’s most expensive retail street, narrowly ahead of Hong Kong’s Causeway Bay.
Paris’ Avenue des Champs Élysées, where annual rents are €13,255.2 per square metre, is third, London’s New Bond Street is fourth (€12,433.6 sq.m/yr) with Tokyo’s Ginza leap frogging into fifth place with annual rents totaling €12,102.9 sq.m/yr.

The annual Cushman and Wakefield Main Streets Across the World report tracks 462 of the top retail streets around the globe, ranking them by their prime rental value.

Upper 5th Avenue, which saw its first decrease in annual rents per square foot since the financial crisis, and Causeway Bay are both more than twice as expensive as the leading street in any other country.

Zurich, with Bahnhofstrasse, ranked 9th with the average rent of €8,408 (CHF9,030) per square metre. The 1.5 km road dropped two places in the last ranking.
Justin Taylor, Cushman & Wakefield’s head of retail for the EMEA region (Europe, Middle East and Africa), 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".