According to the report, the prime rent at Rua Garrett, reference axis in the street commerce area, registered a very significant valuation since 2013, when street commerce in Portugal started a period of strong growth. According to the consultant, rents have since increased 44%, currently standing at 1.560 euros/sqm/year, having already increased 8% since the beginning of the year.
Hong Kong heads this list, with Causeway Bay as the most expensive retail area in the world, surpassing New York, which is justified by the sudden fall in rent prices that affected the American city. On 5th Avenue, the prime rent dropped from 28.262 euro per year per sqm to 20.733 euro, wheras in Hong Kong the value is 24.606 euros.
New Bond Street in London appears at number three in the list, with of 16.000 euro per year, followed by the Champs Elysees, in Paris, with 13.992 euro, and Via Montenapoleone, in Milano, with 13.500 euro.