The report called ‘Main Streets Across the World’ (The shopping streets with the most expensive square meter in the world) and which was carried out by Cushman & Wakefield, a firm specializing in global real estate studies, reveals how much the rental value per square meter in these areas and why they have become the ‘target’ of the most recognized brands on the planet.
They are streets frequented daily by tourists from all over the world and, in addition, the daily scene of actors, presenters, businessmen and all kinds of millionaires who find it really pleasant to spend thousands of dollars in the luxurious stores that have a seat here.
New York’s Fifth Avenue
In addition to being recognized for appearing in blockbuster movies, this street has been the most expensive in the world for quite some time. Reputable restaurants and luxury stores are based here, and its high prices act as a rigorous filter for potential investors, or rather, applicants.
On Fifth Avenue, the price per square meter for rent is 16 thousand euros (about 37 million pesos). In that case, if the premises have 200 square meters, the monthly rental value would be 7,400 million pesos.
It is one of the most popular and busiest streets in Hong Kong. Its multiplicity of brands, products and services (almost all tied to luxury and glamour) have made it one of the most important business centres in the world.
The rental value per square meter costs about 14 thousand euros (about 31 million pesos).
This street, located in the city of Tokyo, has gained important recognition for the presence of recognized brands and for the large influx of tourists. It has become one of the most requested by merchants around the world.
The rental value per square meter on this street costs around 7 thousand euros (about 16 million pesos). In other words, the monthly rental of a 100-square-meter store would cost 1,600 million pesos.
Pitt street mall
It is the great revelation of shopping streets in Australia. Since the Olympic Games in Sydney, this avenue has gained great commercial value and has been in the sights of millionaire investors. Now it is one of the most expensive streets in the world. In just one year it climbed five places: it went from being the ninth most expensive street in the world to being the fourth.
The rental value per square meter is 7 thousand euros (around 16 million pesos).
Avenue of the Champs Elysees
Located in Paris, this avenue is a true example of luxury, especially when it comes to fashion. For this reason, the most renowned designers have chosen this street as their worldwide ‘exhibitor’.
On the Avenue des Champs Elysees, the rental value of one square meter costs around 6,950 euros; that is, 15 million 800 thousand pesos.