25 Oct '16, 2am

Singapore, Manila rise in retail rent rankings | read:

Singapore, Manila rise in retail rent rankings | read:

The data may be a little dated, but Asian cities are holding their own in the retail rent rankings. New York’s Fifth Avenue still tops the list with an average rent of US$3500 per sqft per year. Hong Kong’s Causeway Bay is cemented in second place at $2399 and the Champs Elysee in Paris a distant third at $1372. (It should be noted, the list ranks the single most most expensive shopping strip in each country, not overall.) Data released by Cushman Wakefield this month – albeit more than a year out of date – shows the Philippines making the biggest gain: retail rental rates in Manila’s Bonifacio Global City High St were a mere US$56.40 per sqft per annum, but that is enough to make Manila 51st on the top 65 list – up eight places. Singapore’s Orchard Rd ranked 14th – up two places – at $336.80 and Taipei’s ZhongXiao East Rd 20th, up three places, at $273.20. The Ginza in To...

Full article: http://www.retailnews.asia/singapore-manila-rise-retail-r...

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