The world’s most expensive shopping street is NOT in London – where is it?

That’s right – despite boasting rents worth $1,216 a square foot a year, London’s Bond Street is not the most expensive shopping street in the world.

New York’s Fifth Avenue has been named the world’s most expensive shopping street with rents reaching a record of $3,500 a square foot a year.

James Hawkey, head of retail in Asia Pacific at Cushman & Wakefield, said: “In 2014, retailers showed caution expanding in Hong Kong in the face of moderating sales performance and less exuberant consumption from mainland visitors. Luxury brands were conservative.”

Take a look at the world’s most expensive shopping streets:

1. Upper Fifth Avenue,  New York

Rent: $3,500 per sq ft per year

2. Causeway Bay, Hong Kong

Rent: $2,735 per sq ft per year

3. Avenue Des Champs Elysee, Paris

Rent: $1,556 per sq ft per year

4. New Bond Street, London

Rent: $1,216 per sq ft per year

5. Pitt Street Mall, Sydney

Rent: $1,016 per sq ft per year

6. Via Montenapoleone, Milan

Rent: $998 per sq ft per year

7. Ginza, Tokyo

Rent: $953 per sq ft per year

8. Myeong dong, Seoul

Rent: $932 per sq ft per year

9. Bahnofstrasse, Zurich

Rent: $875 per sq ft per year

10. Stoleshnikov, Moscow

Rent: $557 per sq ft per year

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