Property News · November 14, 2018

Causeway Bay’s Russell Street takes over from New York’s 5th Avenue as world’s most expensive place to rent shops


Russell Street in Hong Kong’s Causeway Bay district has replaced New York’s Upper 5th Avenue as the world’s most expensive retail street by rental value, according to property consultants Cushman & Wakefield.
For the first time in five years, the city has regained the crown with average annual rents of US$2,671 per square foot (HK$20,953) despite a small decline of 1.5 per cent in average rents, according to the company’s annual Main Streets Across the World report,…

Source : South China Morning Post
Read more…Causeway Bay’s Russell Street takes over from New York’s 5th Avenue as world’s most expensive place to rent shops

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