Robson among world’s priciest shopping streets

November 30, 2016 5:57 pm

the vancouver sun

Vancouver’s Robson Street has been named the seventh most expensive shopping street in the Americas in a new report by Cushman and Wakefield, but retail property experts say the fast-fashion street appears to be in a down-cycle as luxury brands seek nearby locations on Alberni and Burrard streets.

The annual Main Streets Across the World report tracked 462 of the top retail streets around the globe, ranking the most expensive in each country by their rental costs.

The report named New York’s Upper 5th Avenue as the most expensive street in the world, with average annual rents of $4,057 (Canadian) per square foot. Hong Kong’s Causeway Bay ranked second most expensive in the world at $3,892 per square foot a year. Rental rates decreased in both when compared to 2015.

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