Champs Elysees, the most expensive shopping street in Europe

The Champs-Elysees in Paris in 2011 is again the most expensive shopping street in Europe, ahead of New Bond Street in London, and retained its fifth place worldwide, according to the annual study of counseling Commercial Real Estate Cushman & Wakefield on Thursday.

The rental value of the Champs Elysees was up 5.3% over the last twelve months 7364 euros per square meter per year, ahead of New Bond Street, who was dethroned in 2010, but the increase was smaller this years, from 4.3% to 6,901 euros per m2/year.

“In contrast to the decrease of 9.5% recorded last year,” the increase in rental value of the Champs-Elysees “sign a comeback of the most beautiful avenue in the world, recently hosted several openings and significant transactions,” the study says, referring to the scheduled arrival of the British chain Marks and Spencer and the U.S. clothing brand Banana Republic .

Worldwide, the top three remains unchanged: the 5th Avenue in New York is still the most expensive for the tenth consecutive year, to 16,704 euros (+21.6%), followed Causeway Bay in Hong Kong to 14,426 euros (+16.7%) and Ginza in Tokyo at 7,750 euros (+8.7%).

Pitt Street Mall in Sydney, however, was hoisted from 9th to 4th place in 7384 euros, with a jump of 33.3% of its rental value. (afp)

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