The World's Poshest Streets

A recent survey lists the world's highest rent districts for retailers.
November 7, 2003, 10am PST | David Gest
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"Fifth Avenue and the Champs Elysees retained their spots as the world's highest-rent districts for retailers...Shops on Fifth Avenue in New York's Manhattan district pay average annual rents of $9,149 a square meter, compared with $7,219 on the Champs Elysées in Paris...'New York's epicenter of luxury retailing confirms the city as the shopping capital of the world,' the real-estate consulting firm [conducting the survey] said, citing the so-called golden crossroad at Fifth Avenue and 57th Street, where Tiffany, Bulgari and Bergdorf Goodman hold three of four corners...The cheapest rent, $420 a square meter, was in the Krasta district of Riga, Latvia. Viru Street in Tallinn, Estonia, was one rung up."

Thanks to David Gest

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Published on Friday, October 14, 2005 in International Herald Tribune
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