Rating of world’s most expensive cities for cost of trade rented space made public

Rating of world’s most expensive cities for cost of trade rented space made public
# 29 August 2013 09:37 (UTC +04:00)

According to the rating, the cost of trade rented space continues to grow in the world.

Over the past three months the rents rose in four cities from ten listed in the rating - New York, London, Zurich and Tokyo. The market is heated due to the low volume of construction and the fierce competition of retailers for the best places.

Hong Kong tops the rating - here per square meter requires payment of 35.8 million euros per year. However, the record price does not deter retailers: only last year, more than 50 new shops were opened in Hong Kong. Retailers are attracted by the expansion of the luxury segment, in particular, the highest number of world’s famous and expensive brands in this city. At the same time, tourists flow is growing day-by-day, so the demand for premium products does not abate. However, it’s almost impossible to find a suitable property with a large surface area and a privileged location. Thus, a good point in the shopping area is a real struggle, which drives up the already high prices.

The second place in the rating is occupied by New York. A square meter in New York City costs 25.2 million euros a year. The flow of tourists provides significant growth in retail sales and attracting new retailers. As a result, over the past quarter, rents in the retail segment here grew by 2.7 %, up 22% compared to last year.

Selling space in Paris is worth 10 million euros a year, in London - 9.6 thousand euros. Stiff competition has raised rents by 9.1 % in the last quarter and 20 % year-on-year.

Moscow took the ninth place for most expensive rented space. Rental rates here remain steady at 6.1 thousand euro per square.

City

Annual rental fee (euro/m²)

1

Honk Kong

35,756

2

New-York

25,199

3

Paris

10,080

4

London

9,554

5

Sidney

7,808

6

Zurich

7,404

7

Tokyo

7,135

8

Melbourne

6,559

9

Moscow

6,102

10

Brisbane

4,953

1 2 3 4 5 İDMAN XƏBƏR
#
#

THE OPERATION IS BEING PERFORMED