Singapore’s shopping hub Orchard Road has emerged as the world’s 27th most expensive retail street with annual rents at US$355.39 psf (S$443.70), down from 25th place last year, noted a Colliers International survey.
Retail streets in Hong Kong featured prominently in the top 10: Queen’s Road Central and Canton Road clinched second and third spots with annual psf rents of US$2,086.73 (S$2605.28) and US$1,993.98 (S$2489.49) respectively. The city’s Causeway Bay came in sixth at US$1,114.47 psf (S$1391.42) per year.
On the other hand, New York’s Fifth Avenue retained its title as the most expensive retail street in the world, with annual rents at US$3,052 psf (S$3810.42).
Overall, the survey monitored the annual rents of prime retail corridors across 129 key cities.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email firstname.lastname@example.org