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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)
Here you’ll find luxury brand stores like Dolce & Gabbana and Tiffany & Co.
9. Bahnhofstrasse, Zurich ($12,613 AUD)
Fashion brands like Giorgio Armani and Louis Vuitton can be found here.
8. Myeong-dong, Seoul ($13,055 AUD)
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)
Over 600 stores are located in the Pitt Street Mall precinct, including Tag Heuer, Gucci and Zara.
6. Ginza, Tokyo ($17,164 AUD)
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)
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)
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 is in London’s West End and it’s where you’ll find Cartier, Hermes, Chanel, Dior and Ralph Lauren.
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)
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.