New Bond Street rents flatten as world’s priciest shopping streets revealed

Rents at New Bond Street have remained broadly static at $1,744 (£1,350) per sq ft this year, maintaining its position as the world’s third most expensive retail street by rental value.   

Ahead of London, Hong Kong’s Causeway Bay has replaced New York’s Upper 5th Avenue to become the costliest retail street for the first time in five years, according to Cushman & Wakefield’s latest Main Streets Across the World report.

Despite a small drop in average rents, Hong Kong’s Causeway Bay area took the top spot with a figure of $2,671 per sq ft.