BEIJING, Shanghai first to become Asia's top 50 rental

(Reporter Wang Liya) June 1, Gao Li International recently released "Spring 2009 Global Shop Summary" revealed that in the past 12 months around the world in Quality Street rental trends, almost all areas of commercial rents have fallen to varying degrees, it is worth mentioning that,　　Shanghai and Beijing, the two largest cities in China, have been among the top 50 in Asia for the first time. The report notes that New York Street is still the world's most expensive retail street, the annual rent of 15069 U.S. dollars per square metre, but compared to the previous year's survey fell 15%; Paris fragrant Shelly Champs Avenue row second, annual rent of 12949 U.S. dollars per square metre, down 18% than last year Tongluowan Russell Street has a annual rental of $12830 per square metre, down 3.8% from last year.　　Professionals analyze the reasons for saying that the decrease in rents of some shops was attributable to the depreciation of the exchange rate, and in addition, the decline in shop rents at the end of 2008 to the beginning of 2009 was marked by a notable decrease in the demand for some quality property projects as a result of the global economic downturn, with double-digit rents falling and even nearly halved in individual markets According to the survey, the Asian region in the Hong Kong Tongluowan Russell Street after the Tokyo Ginza, followed by Singapore Orchard Road. Tokyo Ginza Street Shop annual rent of $6350 per square metre, down 12.9% from last year, Singapore Orchard Road per square metre annual rent of 3487 U.S. dollars, compared to 11.8% decline last year. China's two largest cities, Shanghai and Beijing, first among the top 50 in Asia, Shanghai Nanjingxilu Shop rose to 2637 U.S. dollars per square metre, while the Beijing Guomao Mall annual rental growth of 25.5%, up to 2110 U.S. dollars per square metre. The industry is of the view that for financially sound retailers, rent falls are a good time to expand, especially for those areas or properties that have been more expensive or difficult to secure in the past, and that in the next 12 months or so soon, the high-end shops will eventually return to market focus.