New Delhi's 'Khan Market' is now officially one of the top-20 most expensive retail locations in the world. As per a report from global property consultant Cushman & Wakefield, Khan market is ranked 20th in the list with an annual rent of Rs 17,445.60 per sq ft ($243).
In it's latest report called -- Main Streets Across the World 2019 -- Cushman & Wakefield, while placing Khan Market at the 20th spot, said "rental trends over the past year have largely been pointing upwards, with the lack of availability in the best shopping malls pushing more brands to seek out prominent, high footfall locations in the main commercial corridors."
In the last year's edition of the report, Khan Market was at the 21st spot with an annual rent of Rs 17,014 ($237) per sq ft.
Top 20 most expensive retail locations
| Ranking 2019 |
Country |
City |
Street |
Rent per year (USD) |
| 1 |
Hong Kong, China |
Hong Kong |
Causeway Bay |
2,745 |
| 2 |
USA |
New York |
Upper 5th Avenue (49th - 60th Sts) |
2,250 |
| 3 |
United Kingdom |
London |
New Bond Street |
1,714 |
| 4 |
France |
Paris |
Avenue des Champs-Élysées |
1,478 |
| 5 |
Italy |
Milan |
Via Montenapoleone |
1,447 |
| 6 |
Japan |
Tokyo |
Ginza |
1,251 |
| 7 |
Australia |
Sydney |
Pitt Street Mall |
1,076 |
| 8 |
Switzerland |
Zurich |
Bahnhofstrasse |
866 |
| 9 |
South Korea |
Seoul |
Myeongdong |
862 |
| 10 |
Austria |
Vienna |
Kohlmarkt |
513 |
| 11 |
Mainland China |
Beijing |
Wangfujing |
471 |
| 12 |
Germany |
Munich |
Kaufinger/Neuhauser |
469 |
| 13 |
Ireland |
Dublin |
Grafton Street |
401 |
| 14 |
Greece |
Athens |
Ermou |
361 |
| 15 |
Spain |
Barcelona |
Portal de L'Angel |
361 |
| 16 |
Singapore |
Singapore |
Orchard Road |
312 |
| 17 |
Netherlands |
Amsterdam |
Kalverstraat |
301 |
| 18 |
Czech Republic |
Prague |
Na Příkopě street |
298 |
| 19 |
Russia |
Moscow |
Stoleshnikov |
288 |
| 20 |
India |
New Delhi |
Khan Market |
243 |
Causeway Bay in Hong Kong retains the number one ranking, with an annual rent of $2,745 (Rs 1.97 lakh) per sq ft.
Other expensive retail locations appearing in the list are - New York's Upper 5th Avenue at second position ($ 2,250 {Rs 1.61 lakh} per sq ft), followed by London's New Bond Street ($1,714 {Rs 1.23 lakh}per sq ft) and Avenue des Champs Elysees in Paris ($1,478 {Rs 1.06 lakh} per sq ft).
New York Times Square
Via Montenapoleone in Milan, Italy ranks fifth with an annual rent of $1,447 {Rs 1.03 lakh} per sq ft, the report said.
The rankings are based on rentals during the second quarter of 2019. The Cushman & Wakefield report tracked 448 locations across 68 countries.
Hong Kong
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