Cushman & Wakefield released its latest report on the most expensive streets in the world. This year’s publication lists as many as 16 Polish high streets, including two streets in Katowice.
3 Maja and Stawowa streets have been mentioned among the top main high streets in Poland. As it was in the recent years, 3 Maja experienced a fall in annual rent prices from EUR 636 per one sq. meter in 2014 to EUR 600 per one sq. meter per year in 2015. The data also shows that the annual rent is EUR 180 lower than in the peak in 2009. According to Cushman & Wakefield, new shopping schemes located in the strict city center have a slight impact on the rents level.
When compared 3 Maja with other retail location across the globe, similar rental rates were described in the following locations, among others: EUR 600/sq.m/year – Proxevou Koromila St., Thessaloniki (Greece), EUR 600/sq.m/year – Diagonal, Barcelona (Spain), EUR 592/sq.m/year – Calzada del Valle, Monterrey (Mexico), EUR 590/sq.m/year – Lyngby, Copenhagen (Denmark).
Despite the downturn trend in rents, 3 Maja maintains its last year’s position on the list and is still ranked 7th most expensive street in Poland together with Kraków’s Market Square. Stawowa St. is mentioned for the first time in the listing and stands at 11th position. The annual rent amounts there to EUR 468 per one sq. meter.
With rents at EUR 1 020/sq. m/year Warsaw’s Nowy Świat is the most expensive high street in Poland standing at 43rd position in the global ranking of the 65 most expensive streets – the top one per country. Once again, New York’s 5th Avenue retained its position as the most expensive global retail location. By the second quarter of 2015, rents reached EUR 33 812/sq. m/year an increase of 3,6% year-on year and 46% above the second-placed Causeway Bay in Hong Kong (EUR 23 178/sq. m/year).
The Main Streets Across the World report tracks over 500 of the top retail streets around the globe. The 27th edition of the report shows that rents have risen in 35% of streets around the world – despite the increased global uncertainty experienced over the past 12 months. For the purposes of this survey, the standard main street unit is defined as a unit with 150-200 sq. meters of sales area.