Dive Summary:

• Hong Kong holds the position of priciest retail space worldwide, according to research from CBRE Group.
• Brick-and-mortar prime rents are nearly 150% higher than New York City’s 9th Avenue and more than 400% than Paris and London, according to the research.
• New York posted the second highest prime rent asking price and has continued to attract international and domestic retail business due to the city’s strong international tourism.

From the article:

Raymond Torto, Global Chief Economist, CBRE, commented: “Prime retail rents across the most expensive global markets have held firm against a backdrop of scarce supply and preference for prime space.