Tuesday , January 19 2021

They dethroned Fifth Avenue in New York as the most expensive shopping street in the world



New York, Nov. 18 (EFE) .- New York's famous Fifth Avenue, home to iconic buildings and upscale shops, ranks second to rent the world's most expensive retail space, specifically the corridor between the streets. forty-nine and sixty

The fashion brands Prada, Versace, Dior, Louis Buitton or Cartier are some of the names in this famous and expensive Fifth Avenue corridor, with a rental price of $ 2,250 per square foot (0.09 According to the report "Main Streets Across the World ", prepared by the American real estate services company Cushman & Wakefield.

The famous New York street that also houses the current residence of current US President Donald Trump was ousted this year from his reign by Causeway Bay in Hong Kong that requires $ 2,671 for the same retail space. According to the report, published by the real estate newspaper The Real Deal.

No other city in the United States is among the top ten on the list.

The third place is occupied by New Bond Street, in the city of London, United Kingdom, with a retail price of 1,744 per square meter, followed by France, Italy and Japan.

The report also indicates that the third quarter of this year reflected a reduction in construction of multifamily housing in Manhattan, where 4,490 units were completed, a decrease of 750 compared to the same period last year.

About half of these homes were built in lower Manhattan.

However, where there has been no reduction is in the price of rents, with an increase of about 3.2%, to a monthly average in Manhattan of $ 3,635 per month.

But that number is even higher in other areas of this district, such as Midtown South, which saw a 4.5 percent increase in that period, to be put at around $ 4,178 per month.


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