Cushman & Wakefield – the international commercial real estate brokers and consultants – revealed this week an annual ranking of the world’s most expensive shopping streets. The company surveyed 63 countries including Poland. 3 Maja St. in Katowice was classified as the fifth most expensive street in the country.
In comparison to the last year’s report, the street did not change its position. However, an annual rent for one square meter dropped by 3,3 percent from EUR 717 in 2010 to EUR 696 in 2011. The last two years were showing a fall in rents on 3 Maja St., which was mostly connected with the economic downturn, nevertheless the situation improves year-on-year. Previously, the street reached 38,3% annual rental growth rate in 2008, which was the best result for the country. In 2007, the annual growth was 34,3% and the street was at the list of top 10 localisations with the strongest rental growth in Europe.
The high streets in Poland with prime rents are as follows in 2011:
A trace of 3 Maja Street was marked out in the middle of 19th century between the present Market Square and the “Wolności” Square in the downtown of the City. From the very beginning, the street was occupied by expensive stores and a high society. 3 Maja is mostly built-up by three- or four-storey tenements. In the central part, the street borders upon Szewczyka Sq. where the new Railway Station and Galeria Katowicka are being under construction at present. The City Hall of Katowice plans a renovation of 3 Maja when the construction work at Szewczyka will be concluded.