Strong property growth
is to be seen in the world's top shopping and entertainment destinations, new research by Colliers International has found.
Indeed, the consultancy says that a number of locations, including New York, Hong Kong and London's West End, have seen a double digit annual rental increases.
The report names Fifth Avenue, New York as the best-performing destination, at GBP 1,494 per square feet, this is followed by Russel Street, Causeway Bay, Hong Kong, at GBP 836 per square feet
"Despite the ongoing economic uncertainty, the global destinations that have been singled out by this briefing paper continue to attract millions of visitors. This is due to the rich variety, mix and scale of the retail, entertainment and cultural experiences, together with their unique and eclectic offer," said Farrah Hassan-Hardwick, director of development solutions at the firm.
According to Colliers International, the top retail streets and destinations that continue to succeed
are the ones which continually evolve and re-invent themselves.
- Tuesday 15 March 2011