Here is a list of 10 most expensive shopping streets in the world.
This list is originally made by an international real estate company Cushman & Wakefield and takes into account the rental prices of shopping streets around the world – the higher the rent the more expensive the stores!
Everyone knows that shopping in the center of the city costs more than in the mall on the outskirts of the city or in the market (hi to my Indian and Philippines friends!) but these rental prices will most definitely blow your mind!
Most expensive shopping streets 2008
Keep in mind that the following are yearly rent prices, not monthly.
10 Seoul, South Korea
Gangnam Station – 529 dollars per square feet per year (5694 dollars per square meter per year)
Gangnam Station is the busiest subway station in Seoul – about 130 000 people visit it daily. The surrounding area is one of the most important commercial centers of the city – having tens of impressive towers and company headquarters it is also packed with clubs, restaurants and shops!
9 Sydney, Australia
Pitt Street Mall – 553 dollars per square feet (5952 dollars per square meter)
Pitt Street is Australia’s busiest shopping district! Despite being relatively small, it has over 600 specialty shops in two city blocks and is home to a number of flagship chain stores. Pitt Street Mall is currently being redeveloped and will have a lot of more floor space when finished in 2012.
8 Zurich, Switzerland
Bahnhofstrasse – 729 dollars sq. ft/year ($7846 sq. meter)
This luxurious street is about a mile long but don’t worry – when you are too exhausted to carry your shopping bags you can take the tram that goes along the street and makes shopping convenient! Bahnhofstrasse is home to shops like Louis Vuitton, Giorgio Armani, Bvlgari and Salvatore Ferragamo.
7 Tokyo, Japan
Ginza – $794 sq. ft/year ($8546 sq. meter)
Ginza is an expensive but popular street in Tokyo, known mostly for its many department stores, boutiques and restaurants. It is also home to the largest Gucci store in the world!
There is a popular question that Japanese tour guides ask from foreigners – If you take Japan’s largest bank note and fold it up as small as possible and drop it on the ground – will it be able to buy the land it landed on? The answer is NO!
6 London, United Kingdom
New Bond Street – $810 sq. ft/year ($8718 sq. meter)
The prices on New Bond Street are so high that the British Monopoly game has a square named after it – it is the most expensive one in the entire game! Bond street is also the home of the world famous auction house Sotheby’s, which has been there for more than 100 years. Lately the street is turning into a heaven of designer clothe stores and jewelers.
5 Dublin, Ireland
Grafton Street – $824 sq. ft/year ($8869 sq. meter)
Grafton street is another of our most expensive shopping streets that has a tram system. When opened in 2004 it immediately resulted in 20% more visitors than before and increased the rental prices of the shops by almost 50% in a year.
4 Milan, Italy
Via Montenapoleone – $983 sq. ft/year ($10 581 sq. meter)
Via Montenapoleone is the most important street of Milan – the fashion centre of the world. In addition to fashion it is famous for its extravagant jewelry shops! It must be said that it is a dream for every top fashion designer in the world to be able to open their own brand store on Via Montenapoleone.
3 Paris, France
Avenue des Champs Elysées – $1,134 sq. ft/year ($12 206 sq. meter)
The name for this street comes from the French word for Elysian Fields – the place of the blessed in Greek mythology. For the French it is also known as “The most beautiful avenue in the world”. To preserve the character of the street the city government has banned some stores from opening their shops. For example in 2007 they banned the Swedish clothing chain H&M from opening a store.
2 Hong Kong, China
Causeway Bay – $1,784 sq. ft/year ($19 202 sq. meter)
Causeway Bay shopping district is unique among other expensive streets because just decades ago part of it was under sea! Since Hong Kong is one of the most populated areas on the world it is common to reclaim land from the sea in order to build new and necessary projects!
In contrast to the rest of the world – the shops at Causeway Bay are still open long after midnight!
1 New York, USA
5th Avenue – $1,850 sq. ft/year ($19 913 sq. meter)
Fifth Avenue is often seen as a symbol for wealthy New York and America! It is the home of Empire State Building, Rockefeller Center and the Metropolitan Museum of Art. In the early twentieth century a part of the street was called Millionaire’s Row since it boasted a large number of mansions of the city elite.
The Fifth avenue is packed with stores like Cartier SA, Gucci, Louis Vuitton, Chanel, Prada, Emilio Pucci, Versace and many others.
Average rent of 236 main streets in the world
276 dollars per square feet per year – 2970 dollars per sq. meter.
The world’s average rental prices of a shopping street is more than 6 times cheaper than the price on 5th Avenue, New York or on Causeway Bay in Hong Kong.
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