New York’s Upper Fifth Avenue remains the world’s most expensive retail street, narrowly beating out Hong Kong’s Causeway Bay, but rental values have decreased at both locations as brands balance the demands of their physical and online presences, according to Cushman & Wakefield. In a survey of the world’s 71 most expensive shopping streets, the Czech Republic’s Na Příkopě moves up from the 25th position it held in 2015 to claim the 23rd spot this year. Rents on Na Příkopě average €2,400/sqm annually. The top luxury shopping street in Prague, Pařížská, has seen rents grow by 5.4 percent to €2,340/sqm over a 12-month period, ending in June.
