Saturday, July 11, 2015

World's Most Expensive Shopping Streets

by: Katie Amey

For those with deep pockets and a keen sense of style, these exorbitant shopping avenues will be right their alley.

New York is known for its restaurants and bars, world-class musicals and theatre performances, and, as of last year, the most expensive shopping street in the world, according to property agent Cushman & Wakefield.

The city's iconic Fifth Avenue, specifically the upper part, boasts such high-end shops as Bergdorf Goodman, Barney's and Henri Bendel - not surprising considering that recent estimates for renting out a store in the neighbourhood are as high as £2,238 per square foot per year.

Causeway Bay holds strong as a pricey global shopping contender, however, with rents coming in at about £2,735 per square foot of store space. Current vendors include everyone from Louis Vuitton and Chanel to the more affordable Levi's and L'Occitane.

In London, New Bond Street remains the most exclusive destination in the UK to shop till you drop, with Anya Hindmarch and Harry Winston paying rents of £793 per square foot per year for a coveted place along the pavement.

And while some of the best roads for spending money around the globe are new and surprising, such as Nizami Street in Baku, Azerbaijan, others are most definitely expected.

In the world's fashion capital, Paris, Avenue Montaigne reigns supreme, with iconic French fashion houses such as Dior, Chloe and Bonpoint calling it home.

These are the world's most elite shopping streets.

New York's iconic Fifth Avenue includes shops such as Bergdorf Goodman, Henri Bendel and Barney's

Hong Kong’s Causeway Bay is one of the world's premier shopping destinations. Everyone from Louis Vuitton and Chanel to L'Occitane and Crocs can be found within the expansive district

Avenue Montaigne in the world's fashion capital of Paris is home to several of the world's most elite French fashion houses, such as Dior, Chloe, Louis Vuitton and Bonpoint, among others. International designers who also have taken up residence on the road include Valentino, Prada and Versace

In the UK, London's New Bond Street is the country's top high-end shopping street, showcasing British designers such as Anya Hindmarch and global favourites like Harry Winston and Chopard.

The glamorous street of Rodeo Drive in Beverly Hills is as known for its luxury stores as its A-list shoppers. Celebrities and tourists alike can be found peeking into the windows of some of the region's most expensive stores, which include Burberry and Coach

Bahnhofstrasse is Zurich main downtown shopping area and one of the world's most expensive to boot. Not surprisingly it's lined with Swiss watch and jewellery vendors, as well as high-end international fashion boutiques

The large pedestrian and shopping area in downtown Baku is not only home to expensive retailers, many European embassies have also taken up residence on the road. And even if you're not looking to buy, the Baroque-inspired architecture of the strip is sure to delight

Karntner Strasse is quite easily the most famous shopping street in central Vienna and is home to the country's oldest department store, Steffl. Nearby, plenty of galleries and hidden walkways are also lined with unique shops offering finely crafted, high-end items

Known for its department stores, boutiques and restaurants, Ginza in Tokyo, Japan boasts plenty of upmarket shopping options.


Photo Credit: Alamy/Getty Images

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