According to Cushman & Wakefield, Fifth Avenue in New York is the world’s most expensive retail shopping location averaging $1500 per square foot per year in 2008. In India the most expensive location is Khan Market in New Delhi at $280 per square foot per year and is ranked #16 worldwide. The most expensive location in China is Wanfujing in Beijing at $268 per square foot annually and ranked #19 worlwide. Each country had just one location among the top 50 most expensive locations.
Prices rose most rapidly on Oak Street, Chicago and Rodeo Drive, Beverly Hills in the US. In India rapid price rises hit four locations most steeply. In Delhi prices went up by 87.5 percent in Ansal Plaza (India’s first indoor shopping mall) and Connaught Place; in Greater Kailash 1 they went up 57 percent. Also in Mumbai’s Kemp’s Corner prices rose 55 percent. China was not hit by steep retail rent rises.
Last updated: October 26th, 2022
