Rental price of premises on Dong Khoi Street (HCMC) is the 13th most expensive in the world.

Cushman & Wakefield has just released the 33rd edition of its World Retail Avenues report, which examines prime retail rents in key cities around the world.

Accordingly, Fifth Avenue in New York City - USA still holds the top position as the most expensive retail destination in the world, despite recording unchanged rental growth compared to the same period last year.

Via Montenapoleone in Milan, Italy, jumped to second place while Tsim Sha Tsui in Hong Kong, China, dropped to third place. New Bond Street in London, England, and Avenues des Champs-Élysées in Paris, France, took fourth and fifth place, respectively.

Notably, Istiklal Street in Istanbul, Türkiye, rose from 31st to 20th place as inflation caused rents to more than double over the past year.

Notably, Dong Khoi Street in Ho Chi Minh City also rose one place to 13th. The rental price on Dong Khoi Street is 390 USD/square foot/year (about 101 million VND/m2), an increase of 17% compared to the same period last year.

Dong Khoi Street in District 1, Ho Chi Minh City

The report focuses on average rents for retail locations in the most exclusive urban areas around the world, many of which are luxury stores. Rental values ​​in this particular segment are also affected by promotional deals, incentive packages or risk-sharing rental models.

This publication includes a global index ranking the most expensive destinations in each market around the world.

Asia- Pacific ’s top traditional retail destinations continue to have high rents, accounting for four of the top 10 most expensive locations globally, said Dominic Brown, report author and current Director of International Market Research, Asia-Pacific.

The region recorded average rental growth of 5.3% year-on-year, which, combined with a relatively strong economic outlook into 2024, bodes well for a continued recovery in the retail sector in key luxury markets.

According to the report, more than 95% of luxury brands reported profit growth in 2022, and this trend continued through early 2023.

Source: https://nld.com.vn/kinh-te/gia-thue-mat-bang-duong-dong-khoi-tp-hcm-dat-thu-13-the-gioi-20231122173050342.htm