UPDATED: 7. FEB 2018, AT 12:47

Obchodná Street among the most expensive

Well-known retail street in Bratislava appeared in top 100.

Obchodná Street in BratislavaObchodná Street in Bratislava (Source: SME)

Bratislava’s Obchodná Street belongs among the 100 most expensive retail streets in the world. It placed 52nd in the 2017 Main Streets Across the World report published by real estate services firm Cushman & Wakefield.

The price for renting one square metre on the street per year amounted to €540 in the second quarter of 2017.

“Slovakia’s economy is one of the fastest growing in the euro area, with the retail sector benefiting from improvements in the labour market and increasing household incomes,” reads the report.

New entrants, like Nespresso and Kiehl’s, continue to seek out opportunities across Slovakia and, with very limited availability in the country’s main shopping centres, nearby high streets are benefiting from overspill demand, the authors continue.

New York City leads the global ranking

The annual Main Streets Across the World report tracks 451 of the top retail streets around the globe and ranks the most expensive in 68 countries according to prime rental value utilising Cushman & Wakefield’s proprietary data.

This year’s edition shows that the most expensive retail street in the world is New York’s upper 5th Avenue, with annual rents at an average of €28,262 per square metre per year.

Second-ranked is Hong Kong’s Causeway Bay, despite a 4.7-percent fall in average rents to €25,673 per square metre per year, while London’s New Bond Street came in third, with its rents increasing over a third from the previous year to €16,200 per square metre per year.

Milan’s Via Montenapoleone, where rents rose 12.5 percent to €13,500 per square metre per year, was ranked fourth, while the Avenue des Champs Élysées in Paris, where rents are €13,255 per square metre per year, fell to fifth place despite rents remaining unchanged over the year.

Get daily Slovak news directly to your inbox

Theme: Bratislava

Read more articles by the topic

Top stories

News digest: Lockdown not out of the question, PM Matovič says

The overview of news from Wednesday, October 21, 2020.

PM Igor Matovič says lockdown is still in play.

A curfew for those who refuse testing? Lawyers and president have doubts

The government risks the Constitutional Court canceling the nationwide testing.

Illustrative stock photo

The cabinet approves plan for permanent kurzarbeit

The new fund is expected to be introduced from 2022.

Labour Minister Milan Krajniak