Our Mission

Learn who we are and how we serve our community


Meet our leaders, trustees and team


Developing the next generation of talent

Coronavirus Resources

Find updates on COVID-19


Check out wide-ranging resources that educate and inspire

Global Public Policy

Learn about the governmental initiatives we support


Connect with other professionals at a local, regional or national event

Virtual Series

Find webinars from industry experts on the latest topics and trends

Professional Development

Grow your skills online, in a class or at an event with expert guidance

Find Members

Access our Member Directory and connect with colleagues

Virtual Community

Network, join industry discussions and find professional resources

Student Resources

Find tools to support your education and professional development

Become a Member

Learn about how to join ICSC and the benefits of membership

Renew Membership

Stay connected with ICSC and continue to receive membership benefits


Report reveals world’s most expensive streets for retailers

November 15, 2019

Hong Kong’s Causeway Bay remains the world’s most-expensive street for retail rents, followed by New York City’s Fifth Avenue and, in third place, London’s New Bond Street.

Retailers pay, on average, $2,745 per square foot annually on Causeway Bay, while rents on the posh section (between 49th and 60th streets) of Fifth Avenue are at $2,250, and on London’s New Bond Street, retailers pay $1,714, according to the report, Main Streets Across the World 2019, published by Cushman & Wakefield. The report tracks 448 shopping districts across 68 global markets.

Average annual rents are $1,714 per square foot on London's New Bond Street

France’s Avenue des Champs Elysees came in fourth place, where rents average $1,478 per square foot annually, followed by Italy’s Via Montenapoleone, in Milan, where retailers pay an average $1,447 per year. The Ginza district in Tokyo is the 6th most-expensive street — $1,251.

The top seven streets around the globe held their positions from last year.

New York City's Fifth Avenue holds the No.2 spot for retail rents, which average $2,250 per square foot annually

In the Americas, the U.S. holds the top five spots — Fifth Avenue, Los Angeles’ Rodeo Drive ($895), San Francisco’s Union Square ($650), Chicago’s North Michigan Avenue ($400) and Miami’s Lincoln Road. ($220).

France’s Avenue des Champs Elysees came in fourth place, where rents average $1,478 per square foot annually

In Canada, Toronto’s Bloor Street ($206) and Vancouver’s Robson Street ($153) hold ninth and tenth place, respectively.

Mexico City’s Masaryk is the most-expensive street ($97) in Latin America. The street in the Americas that has made the biggest jump in rents over the past year is Zona Rosa, in Colombia’s Bogotá ($72) up from 20th place in 2018 to 16th place now.

By Edmund Mander

Director, Editor-In-Chief/SCT

SCT Week

Weekly newsletters like SCT Week put retail real estate news and trends in the palm of your hand.

Sign up now