The data may be a little dated, but Orchard Rd rents have risen in the world rankings.
Data released by Cushman Wakefield this month – albeit already more than a year out of date – shows retail rental rates on the city state’s prime strip were $336.80 per sqft per year, ranking Singapore 14th – up two places from the previous year.
It should be noted, the list ranks the single most most expensive shopping strip in each country, not overall. Singapore overtook Oslo and Barcelona to rise two places, and now stands below Moscow’s Stoleshnikov.
New York’s Fifth Avenue still tops the list with an average rent of US$3500 per sqft per year. Hong Kong’s Causeway Bay is cemented in second place at $2399 and the Champs Elysee in Paris a distant third at $1372. The Ginza in Tokyo, Japan ranks a modest eighth at $881.90 in a virtual tie with Myeongdong in Seoul, Korea at $881.80, the only other two Asian strips in the top 10. The Ginza has fallen from sixth in last year’s survey, while Myeongdong has dropped from eighth.
Vietnam’s Ho Chi Minh City CBD retail rents are more expensive than in Bangkok at $150.50 for 32nd place, and $125.40 for 35th respectively.
