21 May Shopaholics watch out: These are the 10 most expensive shopping streets in the world
Shopaholics watch out: We show you the 10 most expensive shopping streets in the world. The following addresses are definitely not for bargain hunters. This is where the credit cards glow.
1ST PLACE: UPPER 5TH AVENUE, NEW YORK
The most expensive shopping street in the world is Upper 5th Avenue in New York. On top it is one of the most famous streets in the world. It is 10km long and starts at Washington Square Park, on the level of 6th Street, then leads through all of Midtown Manhattan and forms the eastern boundary of Central Park. Average retail rents are $3,000 per square meter per year. Accordingly you can find the flagship stores of major brands and luxury labels such as Hermès, Gucci, Tiffany & Co., Prada etc. Consumer spending remains high despite prices due to steady employment growth and the importance of New York in tourism, trade and culture.
2ND PLACE: CAUSEWAY BAY, HONG KONG
On second place is Causeway Bay in Hong Kong. The rent for a store on the main street is up to $2,725 per square meter per year. This puts it just behind Upper 5th Avenue in New York. However, the growth of retail rents in Hong Kong is slowing down bit by bit. Causeway Bay is also known in the shopping scene for its many shopping centres. There’s hardly anything you can’t find here! More famous shopping hotspots include Times Square, the World Trade Centre and Sogō. Sophisticated fashion can be bought at Lee Gardens One & Two, Hysan Place, Lee Theater, Times Square and Fashion Walk. The Sogō Department Store and wtc more offer the medium price segment and luxury articles. But that’s not all: Between all these shops you will also find specialist shops offering shoes, electronics, computers, skin care products, all kinds of snacks, home accessories and much more. In Causeway Bay you can feel the pulse of the city.
3RD PLACE: NEW BOND STREET, LONDON
New Bond Street in London is listed as the third most expensive shopping street in the world. The average rent on the luxury shopping street is $1,719 per square meter per year. London’s famous Bond Street has a worldwide reputation for its many elegant shops, exclusive brands, designer clothing, luxury items, fine jewellery, works of art and antiques. Located in the heart of the historic Mayfair district in London’s popular West End, it has become the epitome of cultivated luxury. New Bond Street has even replaced the Champs-Élysées as Europe’s most expensive shopping street.
The following shopping streets have landed in the places 4-10:
- 4th place: Via Monte Napoleone, Milan
- 5th place: Avenue des Champs-Élysées, Paris
- 6th place: Ginza, Tokyo
- 7th place: Pitt Street Mall, Sydney
- 8th place: Myeong-dong, Seoul
- 9th place: Bahnhofstrasse, Zurich
- 10th place: Kohlmarkt, Vienna
Image source: unsplash/ freestocks.org