Champs-Elysees is Europe's priciest shop space

27th October 2004, Comments 0 comments

PARIS, Oct 27 (AFP) - New York's Fifth Avenue and the Champs-Elysees in Paris are the most expensive addresses in the world for shops looking to set up a storefront, a report released Wednesday said.

PARIS, Oct 27 (AFP) - New York's Fifth Avenue and the Champs-Elysees in Paris are the most expensive addresses in the world for shops looking to set up a storefront, a report released Wednesday said.

Fifth Avenue easily takes the top spot for chic addresses and pricey rent, with companies coughing up an average EUR 8,406 (USD 10,740) in rent per square metre (nearly 11 square feet) per year, said the study Main Streets Across the World by London-based real estate group Cushman and Wakefield Healey and Baker.

The Champs-Elysees comes next and is Europe's glitziest stretch with a price of EUR 6,287 per square metre, although that may soon rise with several companies, among them Hugo Boss, Louis Vuitton and Adidas, about to open their doors there.

Next on the list comes Causeway Bay in Hong Kong as Asia's most expensive shopping street.

London's Oxford Street and Dublin's Grafton Street are ranked next.

Asia overall showed signs of a buoyant economy, with two-thirds of its surveyed areas recording significant jumps in rent.

Up-and-coming addresses include Bulevardul Magheru in the Romanian capital Bucharest (35th place) and Bangkok's City Centre (43rd).

Tokyo's Ginza district and Avenida Florida in Buenos Aires are the fastest risers on the list, according to the study, which each year tracks the retail rents of 229 streets in 45 countries.

© AFP

Subject: French News

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