Magheru Blvd ranks 47 in the top of the most expensive streets across the world in 2010

Newsroom 21/09/2010 | 13:52

Bucharest’s Magheru Blvd ranks 47 in Cushman & Wakefield’s “Main Streets Across The World 2010” report with an annual rent of EUR 777/sqm, according to the real estate service firm. Magheru lost seven places compared to last year. Retail property rents in the country’s most important commercial streets are estimated to have dropped by 15 percent between June 2009 and June 2010.

Fifth Avenue in New York has retained its top position as the world’s most expensive shopping street in the world for the ninth consecutive with an annual rent of EUR 16,257 while Hong Kong’s Causeway Bay ranks the second place. In Europe, New Bond Street in London leads the top, coming ahead of Avenue des Champs-Elysees in Paris.

In Europe, property rents went down by about 4.5 percent, while the most significant increases have been taking place in Latin America and the South Pacific region, according to the report.