As of June 2019, the annual rent of a retail space in the Avenue des Champs-Elysees in Paris amounted to 1,478 U.S. dollars per square foot. However, Causeway Bay in Hong Kong was the most expensive retail location worldwide.
Luxury retail locations – additional information
Where renters complain about high rents, top retailers see it differently. They believe that these locations are essential for brand equity, translating into increased sales and higher profit margins. Therefore big retailers pay high prices for top locations. The most expensive retail location in the world is Causeway Bay in Hong Kong where retailers paid around 2,671 U.S. dollars per square foot per year in 2018. Upper 5th Avenue in New York was the second most expensive retail location in the world, followed by New Bond Street in London. In these locations, rents are only likely to increase further as cities grow and attract increasing numbers of visitors each year, such as is the case of New York.
Most expensive retail locations worldwide as of June 2019, by annual rent
(in U.S. dollars per square foot)
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Cushman & Wakefield. (November 13, 2019). Most expensive retail locations worldwide as of June 2019, by annual rent (in U.S. dollars per square foot) [Graph]. In Statista. Retrieved July 17, 2024, from https://www.statista.com/statistics/264903/most-expensive-shopping-streets-for-retail-rent-worlwide/
Cushman & Wakefield. "Most expensive retail locations worldwide as of June 2019, by annual rent (in U.S. dollars per square foot)." Chart. November 13, 2019. Statista. Accessed July 17, 2024. https://www.statista.com/statistics/264903/most-expensive-shopping-streets-for-retail-rent-worlwide/
Cushman & Wakefield. (2019). Most expensive retail locations worldwide as of June 2019, by annual rent (in U.S. dollars per square foot). Statista. Statista Inc.. Accessed: July 17, 2024. https://www.statista.com/statistics/264903/most-expensive-shopping-streets-for-retail-rent-worlwide/
Cushman & Wakefield. "Most Expensive Retail Locations Worldwide as of June 2019, by Annual Rent (in U.S. Dollars per Square Foot)." Statista, Statista Inc., 13 Nov 2019, https://www.statista.com/statistics/264903/most-expensive-shopping-streets-for-retail-rent-worlwide/
Cushman & Wakefield, Most expensive retail locations worldwide as of June 2019, by annual rent (in U.S. dollars per square foot) Statista, https://www.statista.com/statistics/264903/most-expensive-shopping-streets-for-retail-rent-worlwide/ (last visited July 17, 2024)
Most expensive retail locations worldwide as of June 2019, by annual rent (in U.S. dollars per square foot) [Graph], Cushman & Wakefield, November 13, 2019. [Online]. Available: https://www.statista.com/statistics/264903/most-expensive-shopping-streets-for-retail-rent-worlwide/
