Blog - Commercial

11 May 2018

THE 10 MOST EXPENSIVE RETAIL STRIPS IN THE WORLD

If you lease a shop in Pitt Street Mall in Sydney, you probably know you’re in Australia’s most expensive retail strip. You’ll be paying an average of $14,297 per square metre per year.

But did you know you’re also in the top 10 most expensive retail strips in the world? Here’s the current top 10 list.

10. Kohlmarkt, Vienna ($6,999 AUD)

Kohlmarkt in Vienna, the 10th most expensive retail strip in the world

Here you’ll find luxury brand stores like Dolce & Gabbana and Tiffany & Co.

9. Bahnhofstrasse, Zurich ($12,613 AUD)

Bahnhofstrasse in Zurich, the 9th most expensive retail strip in the world

Fashion brands like Giorgio Armani and Louis Vuitton can be found here.

8. Myeong-dong, Seoul ($13,055 AUD)

Myeong-dong in Seoul, the 8th most expensive retail strip in the world

Over a million shoppers pass through this bustling strip every day! You’ll find a huge range of tenants including beauty stores like Nature Republic and Olive Young.

7. Pitt Street Mall, Sydney ($14,297 AUD)

Pitt Street Mall in Sydney, the 7th most expensive retail strip in the world

Over 600 stores are located in the Pitt Street Mall precinct, including Tag Heuer, Gucci and Zara.

6. Ginza, Tokyo ($17,164 AUD)

Ginza in Tokyo, the 6th most expensive retail strip in the world

Ginza is massive and includes shopping centres and department stores, as well as individual shops for leading global brands.

5. Avenue des Champs Élysées, Paris ($27,377 AUD)

Avenue des Champs Élysées in Paris, the 5th most expensive retail strip in the world

International tourists flock to this area and the high-end retailers are only too willing to cater to them.

4. Via Montenapoleone, Milan ($27,640 AUD)

Via Montenapoleone in Milan, the 4th most expensive retail strip in the worlld

This precinct is renowned for high-end fashion stores like Prada and Yves Saint Laurent.

3. New Bond Street, London ($31,090 AUD)

New Bond Street in London, the 3rd most expensive retail strip in the world

New Bond Street is in London’s West End and it’s where you’ll find Cartier, Hermes, Chanel, Dior and Ralph Lauren.

2. Causeway Bay, Hong Kong ($53,146 AUD)

Causeway Bay in Hong Kong, the 2nd most expensive retail strip in the world

Major international retailers view Causeway Bay as the premier location to establish their presence in Asia. So, they’re willing to pay top dollar to secure a spot.

1. Upper Fifth Avenue, New York ($55,249 AUD)

Upper Fifth Avenue in New York, the most expensive retail strip in the world

The section between 49th and 60th streets is currently the most expensive retail rental space anywhere in the world. It’s where you’ll find luxury department stores like Saks and it’s just a short stroll away from the iconic Times Square and Central Park.

Date: 11 May 2018 Author: TGC Writer
Commercial
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About the author:

TGC Writer

TGC is the largest privately owned commercial real estate agency in the Sydney CBD, with over 20 years experience servicing the CBD, City Fringe and greater Metropolitan property market. We’re committed to assisting you with your total property needs, including buying, selling, leasing and property management.

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