New York’s 5th Avenue remains, for the second consecutive year, the number one mtratada_500x316ost expensive rental address in the world for luxury retailers. Each usable square meter is priced at $3,500 per month. Second comes Causeway Bay, in Hong Kong, and third the Champs-Élysées strip in Paris, with rent priced at $2,399 and $1,372 per usable square meter, respectively. New Bond Street, in London, is ranked in fourth ($1,321), followed by Via Montenapoleone, in Milan ($1,035).

Brazil has dropped from 32nd most expensive, in 2014, to 39th this year. The country’s most expensive street for luxury retailers is Garcia D’Ávilla, in Ipanema, Rio de Janeiro, where the square meter is priced at $116. “Brazil’s lower ranking is correlated with its poor economic performance, combined with a highly devalued currency. However, the Brazilian market still stands out among South America in terms of rental value, coming in with the second highest prices in the region, trailing just behind Florida Street in Buenos Aires, Argentina ($125),” states Carla Kauffmann, South American Retail Manager for Cushman & Wakefield. According to her, Garcia D’Ávilla Street in particular continues to indicate increasing valuation (5% between September 2014 and June 2015) “because it is an important and desirable foothold for international brands who want to establish a location in Brazil.”

Most expensive rental addresses for luxury retailers in the world

Rank Address Cost of usable square meter per month, in USD
1 5th Avenue (New York) $3,500
2 Causeway Bay (Hong Kong) $2,399
3 Avenue des Champs-Élysées (France) $1,372
4 New Bond Street (England) $1,321
5 Via Montenapoleone (Italy) $1,035
6 Bahnofstrasse (Switzerland) $895
7 Ginza (Japan) $882
8 Myeongdong (South Korea) $882
9 Kohlmarkt (Austria) $478
10 Kaufinger (Germany) $460

Source: Main Streets Across the World, by Cushman & Wakefield