Magheru Blvd ranks 46 in the top of the most expensive streets across the world in 2011

Bucharest’s Magheru Blvd ranks the 46^th  position out of  63 in Cushman & Wakefield’s “Main Streets Across The World 2011” report with an annual rent of EUR 780/sqm, according to the real estate service firm. Magheru gained one position compared to 2010 when it had lost seven places compared to the previous year.

The boulevard remains among the cheapest locations in Central and Eastern Europe, followed only by Sofia and Bratislava, shows the same report.

“The inflation squeeze on incomes and anemic sales growth translated into challenging trading conditions and rental falls across Romania (7.8 percent) and Bulgaria (16.1 percent). The declines were also prompted by the increasing supply of retail space, but conversely, this may open the door for retailers who might not have otherwise considered the markets,” reads the report.

Fifth Avenue in New York has retained its top position as the world’s most expensive shopping street in the world for the tenth consecutive year with an annual rent of EUR 16,704 while Hong Kong’s Causeway Bay ranks the second place and it is followed by Ginza in Tokyo, Pitt Street Mall in Sydney and Avenue des Champs Elysées din Paris.

Simona Bazavan

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