New York tops global retail property Rentals

On the evening of December 3 Sina Finance, from the latest report of CB Richard Ellis, Global Market Watch, learned that global retail property rents are starting to stabilise, down by an average of 1% in the third quarter of this year, with New York continuing to be the world's highest-rent market for retail property. Despite a 25% drop in rents over the past 12 months, New York continued to be the world's highest-rent market for retail property in the third quarter of this year. As of the third quarter, New York's quality retail properties for the annual rent of 1640 dollars per square foot.　　Hong Kong and Paris are ranked second and third in the global rankings, with annual rents of $976 and $857 per square foot respectively. It is noteworthy that, in the face of the global economic crisis, the quality retail property market in Hong Kong, Paris, Sydney and London has shown its resilience and rents have remained stable over the past 12 months. Sydney climbed to fourth place in the global rankings, although this was largely due to the Australian dollar's strong exchange rate against the dollar.　　In contrast, rents in Tokyo fell by 18% in the same period, but still ranked fifth in the global list of retail property rentals. "While consumers remain cautious about consumer spending, consumer confidence is slowly picking up, and some economies are even more positive," said Peter Petergold, head of multinational business services in Europe, the Middle East and Africa. For most retailers, there is no doubt that there will be many challenges in the future, but in the year the confidence of retailers is also gradually recovering, and in many areas, including department stores and popular apparel retailing, to focus on mature markets and quality sectors are still on the agenda. "(Ding from Beijing)