Global Economy
Dublin's Grafton Street 23rd most expensive country ranking retail location in world
By Michael Hennigan, Finfacts founder and editor
Jul 23, 2014 - 11:55 AM

Printer-friendly page from Finfacts Ireland Business News - Click for the News Main Page - A service of the Finfacts Ireland Business and Finance Portal

Dublin's Grafton Street is the 23rd most expensive country ranking retail location in the world and is down from 6th rank in 2006.

'Main Streets Across the World' [pdf] presents a global barometer of the retail sector, tracking rents in the world’s top 334 shopping locations across 64 countries. The main league table is drawn up by taking the most expensive location in each of the countries monitored. In addition, the publication provides overall regional commentary as well as specific luxury retail overviews for each region.

  • Hong Kong’s Causeway Bay remains the world’s costliest retail location for the second year running and breaks through the $3,000 per sq ft barrier for the first time in the survey’s 25-year history;
  • New York’s Fifth Avenue and Avenue des Champs-Élysées in Paris, which saw nearly a 40% rental rise, hold on to second and third place respectively;
  • With continued demand from international luxury brands, rents in London’s New Bond Street increased by more than 15% as the location climbed from sixth to become the fourth most expensive shopping street in the world;
  • Global retail rents remain resilient overall with a 3.2% average increase recorded for prime locations;
  • The Americas showed the strongest regional growth with prime rents increasing by 5.8%.

The annual Cushman & Wakefield survey shows that at $288 (€214) per square foot, Ireland's most expensive street, Grafton Street, fell from a 17th rank in the previous year compared with Hong Kong's Causeway Bay which topped the table at €3,017 per square foot a year.

New York's Fifth Avenue cost $2,500, with $1,601 for Avenue des Champs-Élysées, Paris. A square foot in London's New Bond Street cost $1,047 a year.


© Copyright 2011 by Finfacts.com