For the second consecutive year, Causeway Bay in Hong Kong remains the most expensive shopping thoroughfare in the world. Silver medal for New York's Fifth Avenue. Lowest step of the podium for the Champs Élysées in Paris. New Bond Street in London and Ginza in Tokyo are respectively fourth and fifth in the special classification of Cushman & Wakefield.
According to the study, in Causeway Bay to rent one square meter you have to spend an average of almost 25 euros a year, with a growth of 14,7% compared to the previous year. An increase linked "to the sustained demand from luxury shops" to put a window on the prestigious shopping street.
Cheaper, so to speak, to open a shop on Fifth Avenue: the price per square meter is 20700 euros a year, up by 3,7%. A modest increase, especially if compared with that of the previous year (almost 11%). due to "a less favorable economic climate and the increase in supply in countries such as Brazil".
The numbers in Paris are much lower – just over 13 euros – but rental prices on the Champs Élysées are growing rapidly: +38,5% this year, after registering +30% in 2012. The problem, from those parts, is that spaces are starting to run out: "Openings are now rare, as far as the most expensive stretches are concerned, and opportunities are almost non-existent", says Cushman & Wakefield France.
For 2014, the study center expects rental values (except for countries such as Greece and Ireland, heavily affected by the crisis) to remain globally "stable or to continue to grow in the wake of the recovery, the strong competition between brands of the so-called "fast -fashion” (above all H&M and Zara) or luxury and, lastly, the lack of supply of the best locations in the shopping streets.
