The Czech Republic’s most important high streets have made it into the Top 20 most expensive global listing for the first time. Cushman & Wakefield’s newest research shows that Prague’s Na Příkopě and Pařížská Streets jumped three places to 19th overall. Among the new brands to make a showing in Prague are Brunello Cucinelli, Hogan, Philipp Plein, Elisabetta Franchi and Furla. Luxury brands are also moving in, with new outlets for Christian Louboutin, while Tous, Vapiano and Swarovski opened along Na Příkopě. Retailers are being asked to pay as much as €230 per square meter per month for space in the city’s high streets.
“We perceive the street Na Příkopě as the most important retail street in the Czech Republic on the basis of its strategic position, well-performing retailers and footfall – both tourists and locals. However, the street’s potential has not been fully utilized yet. The appeal of the entire quarter will soon increase as a result of new projects, the most important of them being the refurbishment of Savarin,” says Jan Kotrbáček, Partner and the Head of the Retail Agency team at Cushman & Wakefield CEE
Hong Kong’s Causeway Bay replaced New York’s 5th Street as the world’s most expensive retail location for the first time ever, while New Bond Street in London comes in third.
