As if you need to think about where to spank away your cash on deliciously luxurious goods. If not, we’re here to help. It’s no secret that every metropolitan city has its own High Street, built with the shopper in mind. Here are the 10 most expensive shopping streets in the world… VISAS at their ready!
The study, done by Cushman & Wakefield, didn’t look at the price tags of the items sold in the shops but rather at the rent prices commercial businesses pay in the biggest cities of 63 countries. Despite the global economy, things haven’t changed too much since last year’s study, Europe takes up half of the spots on the top 10 list! No surprise that Paris’ own Champs-Elysées has been crowned the most expensive shopping street in Europe, with London’s New Bond Street right behind it. Sydney’s Pitt Street Mall made the biggest jump, climbing from 9th place in 2010 to 4th in 2011.
The world’s most expensive shopping streets
1. Fifth Avenue in New York City, USA: £13, 935 per m². 5th Ave has been the most expensive shopping street for 10 years running.
2. Causeway Bay in Hong Kong, China: £12, 035 per m². This Hong Kong street has kept its second place from last year, with a rent increase of 17%.
3. Ginza in Tokyo, Japan: £6, 445per m². Japan’s shopping centrale has kept it’s third place position, despite the tsunami crisis that hit the country last year.
4. Pitt Street Mall in Sydney, Australia: £6, 160 per m². With rent costs rising 33% from last year, Sydney wins the prize for biggest climb.
5. Champs-Elysées in Paris, France: £6, 144 per m². It was just a few years ago that Champs-Elysées was in third place. For two years running, it has dropped to 5th but remains the most expensive shopping street in Europe.
6. New Bond Street in London, UK: £5, 757 per m². Nestled in Mayfair in London’s post West End you can usually find a celebrity or two shopping here.
7. Via Montenapoleone in Milan, Italy: £5, 673 per m². Fashion capital of Europe, you’ll find both high-street fashion names to ready-to-wear right off the runway fashions in boutiques here.
8. Bahnhofstrasse in Zurich, Switzerland: £5, 467 per m². The world’s most prestigious brands call this street home, for the rich and famous only!
9. Myeongdong in Seoul, South Korea: £3, 933 per m². This is the place to be in South Korea if you want to max out your card… quick!
10. Kaufingerstrasse in Munich, Germany: £3, 303 per m². Munich made it into the top 10 this year, thanks to a 6% rise in rental prices.
Besides New Bond Street, have you ever strolled down these pricey streets, let alone gone shopping?