Report: Hong Kong boasts the world's priciest retail rents

05/13/2013 | Reuters

Retailers pay almost 50% more for Hong Kong's prime retail spots than their counterparts on New York's Fifth Avenue and four times as much as merchants in top retail districts in London and Paris, according to CBRE Group. Average annual retail rents in Hong Kong's top shopping areas are about $4,328 per square foot, while retailers in the second-priciest market, New York City, paid an average of $2,970 per square foot.

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