{"id":101229,"date":"2018-11-14T08:54:40","date_gmt":"2018-11-14T01:54:40","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/causeway-bays-russell-street-takes-over-from-new-yorks-5th-avenue-as-worlds-most-expensive-place-to-rent-shops\/"},"modified":"2018-11-14T10:02:59","modified_gmt":"2018-11-14T03:02:59","slug":"causeway-bays-russell-street-takes-over-from-new-yorks-5th-avenue-as-worlds-most-expensive-place-to-rent-shops","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/causeway-bays-russell-street-takes-over-from-new-yorks-5th-avenue-as-worlds-most-expensive-place-to-rent-shops\/","title":{"rendered":"Causeway Bay\u2019s Russell Street takes over from New York\u2019s 5th Avenue as world\u2019s most expensive place to rent shops"},"content":{"rendered":"


\nRussell Street in Hong Kong\u2019s Causeway Bay district has replaced New York\u2019s Upper 5th Avenue as the world\u2019s most expensive retail street by rental value, according to property consultants Cushman & Wakefield.
\nFor 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\u2019s annual Main Streets Across the World report,…
\n
\nSource : South China Morning Post
\nRead more…Causeway Bay\u2019s Russell Street takes over from New York\u2019s 5th Avenue as world\u2019s most expensive place to rent shops<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Russell Street in Hong Kong\u2019s Causeway Bay district has replaced New York\u2019s Upper 5th Avenue...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-101229","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qkJ","jetpack-related-posts":[{"id":71945,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-causeway-bay-remains-as-worlds-second-most-expensive-retail-district\/","url_meta":{"origin":101229,"position":0},"title":"Hong Kong\u2019s Causeway Bay remains as world\u2019s second most expensive retail district","date":"November 16, 2017","format":false,"excerpt":"\r Hong Kong\u2019s Causeway Bay has retained its title as the world\u2019s second most expensive retail location, despite a decline in rents this year, according to a new report that tracks the most expensive shopping streets in the world. With an annual per square foot rent of US$2,725, Causeway Bay\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":157669,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/skechers-to-take-over-patek-philippe-space-on-causeway-bays-russell-street\/","url_meta":{"origin":101229,"position":1},"title":"Skechers to take over Patek Philippe space on Causeway Bay\u2019s Russell Street","date":"July 16, 2025","format":false,"excerpt":"\r Skechers, an American footwear and apparel company, is taking advantage of a slump in Hong Kong\u2019s retail market by filling a space previously occupied by high-end Swiss watchmaker Patek Philippe on Causeway Bay\u2019s Russell Street, one of the city\u2019s most expensive shopping strips. A 1,036 sq ft shop on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110869,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/causeway-bays-retail-vacancy-rate-to-soar-with-one-in-10-shops-standing-empty-as-hong-kongs-street-rallies-enter-their-15th-week\/","url_meta":{"origin":101229,"position":2},"title":"Causeway Bay\u2019s retail vacancy rate to soar, with one in 10 shops standing empty as Hong Kong\u2019s street rallies enter their 15th week","date":"September 18, 2019","format":false,"excerpt":"\r One in every 10 shops in Causeway Bay now stands empty, as three months of protest rallies have deterred visitors from the world\u2019s most expensive shopping district, adding to the woes of a retail industry that is already suffering from a weakening yuan and mainland China\u2019s abolition of luxury\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118552,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rising-vacancy-sliding-rents-in-hong-kong-signal-cracks-in-worlds-most-expensive-retail-strip-to-persist-into-new-year\/","url_meta":{"origin":101229,"position":3},"title":"Rising vacancy, sliding rents in Hong Kong signal cracks in world\u2019s most expensive retail strip to persist into new year","date":"September 10, 2020","format":false,"excerpt":"\r The world\u2019s most expensive retail strip is likely to endure another six months of industry slump as shop owners struggle to replace premium tenants amid Hong Kong\u2019s deepening recession.Global brands from Prada to Rolex and Victoria\u2019s Secret have in the past year vacated their space near or along Russell\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74404,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/causeway-bay-set-to-become-the-heart-of-co-working-space-in-hong-kong\/","url_meta":{"origin":101229,"position":4},"title":"Causeway Bay set to become the heart of co-working space in Hong Kong","date":"December 13, 2017","format":false,"excerpt":"\r Causeway Bay is set to become the heart of co-working space in the city once Campfire Collaborative Spaces opens its 38,820 square feet of space in V Point office tower which will open in July next year. Hong Kong-based Campfire has taken up nine floors in the grade A\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123683,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/offices-may-decamp-to-hong-kongs-causeway-bay-amid-rental-crash-in-the-worlds-costliest-retail-strip\/","url_meta":{"origin":101229,"position":5},"title":"Offices may decamp to Hong Kong\u2019s Causeway Bay amid rental crash in the world\u2019s costliest retail strip","date":"December 8, 2021","format":false,"excerpt":"\r Causeway Bay looks increasingly more appealing as an office address, amid the rental crash in what was until recently the world\u2019s most expensive retail shopping district.The monthly net office rent in the district between Hong Kong\u2019s Wan Chai and Quarry Bay averaged HK$60.4 (US$7.74) per square foot, just about\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/101229"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=101229"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/101229\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=101229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=101229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=101229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}