World's most expensive shopping streets

[bhchao]

I recently came across a list of the world's most expensive shopping streets in 2004, measured by rent per square meter (US$). For those that are interested, here is the link.

http://www.cushwakeasia.com/aboutus/pdf/news/Main%20Streets%202004%20press%20release.pdf

1. East 57th Street/Fifth Avenue - Midtown Manhattan

Average rent per square meter in 2004: $10,226

Average rent per square feet in 2004: $950

2. Avenue des Champs-Elysees - Paris

Average rent per square meter in 2004: $7,648

Average rent per square feet in 2004: $710

3. Causeway Bay- Hong Kong

Average rent per square meter in 2004: $6,126

Average rent per square feet in 2004: $569

4. Oxford Street - London

Average rent per square meter in 2004: $5,564

Average rent per square feet in 2004: $517

5. Grafton Street - Dublin

Average rent per square meter in 2004: $4,103

Average rent per square feet in 2004: $381

6. Kaufinger Strasse - Munich

Average rent per square meter in 2004: $3,577

7. Tverskaya - Moscow

Average rent per square meter in 2004: $3,500

8. Pitt Street Mall - Sydney

Average rent per square meter in 2004: $3,449

9. Ginza - Tokyo

Average rent per square meter in 2004: $3,348

10. Myeongdong - Seoul

Average rent per square meter in 2004: $3,241

Fifth Avenue (between 51st and 59th Street, and especially at 57th) is the world's most expensive shopping street in terms of rent, while Hong Kong has the most expensive bill for rentpayers in Asia, followed by Tokyo (9th), Seoul (10th), and Shanghai (21st).

Anyone been to one or more of these shopping locations? Any pleasant or unpleasant experiences?

[skylee]

Avenue des Champs-Elysees - Paris - unpleasant experiences include getting robbed at the metro station underneath, being approached by Chinese people asking if I was Chinese and if I could help them buy Louis Vuitton bags, being stopped by policemen to check if I was Chinese and asking people to help me buy LV bags ...

I have been to 2, 3, 4, 6, 9, 10 (not sure about 8 but if it is a shopping street then most probably I have visited it).

[wushijiao]

What horrible luck skylee!

I have been to 1,2,4 and 7.... but didn't buy a thing!

[bhchao]

Skylee, that was awful. I bet you haven't returned.

[geraldc]

I've been to 1,2,3,4,5 and 9.

I shop on 4 almost daily, but I haven't really done much shopping at the other locations other than 3, and to show how cheap I am, I have eaten in Mcdonalds in 2 and 4.

[skylee]

3. Causeway Bay- Hong Kong - pleasant experience ... bought a Tod's bag at 40% discount and saved myself $$$

I remember telling a friend a while ago about how much money one could easily spend on a shopping day in Causeway Bay. It is not that the things are expensive (there is no lack of expensive things though), but that there are so many shops selling so many different things gathered in one place for you to spend money in (oh we covet what we see). And the prices are not unreasonable (in HK, prices are more or less fixed and even if you ask for a discount (not a bargain) usually it won't be much cheaper). Sometimes Causeway Bay can be a dangerous place money-wise.

There are many shopping districts in HK but Causeway Bay is my favourite.

[Ian_Lee]

In reality, Causeway Bay tops the rent list.

In many other cities, the landlord provides a longer lease term (i.e. 5-10 years) and a grace period for the new tenant to redecorate.

But in Hong Kong, landlord is the king. All the leases only last for two years. And seldom is any contract term offered that would give the current tenant priority to continue the lease when the contract expires.

Moreover, the lease commences on the date that the tenant moves in. To save money, more than once I saw that the carpenter still working on the shop at 11 p.m. the night before while the shop grand opened at 10 a.m. next day completely decorated and fully furnished.

Of course, no other assets appreciate faster than the shopping space in Causeway Bay. I knew someone buying a shop in Russell Street for HK$50,000 in 1960s and sold it in 2002 for HK$30 million.

Now property on the same street is asking for over HK$40 million.

[Lu]

I don't really get the LV bag thing. Why would people need help buying a bag? And why would that be illegal?

[skylee]

I don't (still) get it either.

But when you buy at the LV shops in Paris, they would ask to register your passport. Once there was a mainland shopper who wanted to pay in cash and the shop assistants were soooo reluctant to allow her to do so and even asked for her address ... And if they know that you have already bought something in one branch and want to buy something else at another branch, you would be refused. (My personal experience. They just told me that there was no stock, no matter what I asked for, even if that something was exactly there they told me it was for display only.) And if I want to get a tax-refund stamp at CDG, the customs officers would only ask me to show them the LV bags, and nothing else. Perhaps this has to do with the prevention of parallel export/import or money-laundering?

IMHO it is not a pleasant experience for Chinese to shop at LV in Paris (especially the branch on Champs-Elysees). We pay the same as the Japanese but don't get the same respect. Don't get this either.

But I have moved on to Tod's.

[roddy]

http://www.inq7.net/nwsbrk/2004/aug/02/nbk_8-1.htm

Kind of explains it a bit

Since the shop has a policy of selling not more than two articles, the Chinese "shoppers" scramble to find buyers with offers of kind payment

Perhaps I'll see if I can get a LV representative to comment.

Roddy

[Quest]

IMHO it is not a pleasant experience for Chinese to shop at LV in Paris (especially the branch on Champs-Elysees). We pay the same as the Japanese but don't get the same respect. Don't get this either.

That's right, I've just heard the same stories from 大小S and 伊能静.

伊能静 was looking at this item, and the salesperson said, "Sorry, don't touch it."

大S: "我们登记了很久，她站在我面前我就说，”我要那个包包。“ 她就说”no“。然后我就说，“那～那一个”。她就说”no。” 然后我就说，“那我可以看一下那个本子那个目录。“ 她就说，”no。“ 然后我们就在那里已经‘抓狂‘ 那到底什么能买呀。我们就在那边大喊大叫。然后他们就害怕，然后他们就说好那你要什么。－－－－怎么被瞧不起耶。”

Listen to their complain here if you care.

[Lu]

That sounds like a very weird way of selling things. And like a good reason never to buy Louis Vuitton, if that's how they treat you and other Chinese.

[Dav-X]

i never bought any LV products, but it seems that some chinese loves to be insulted by shop keepers in european luxury shops. Like Skylee, i was approached by chinese all the time around the LV shops in Paris, and they 'invited' me to earn some money. Strange! IMO, the negative shopping experience can't be compensated by the peacockery of carrying the money-killing bags.

[skylee]

but it seems that some chinese loves to be insulted by shop keepers in european luxury shops

love?

[TSkillet]

Actually - the chinese buyers vs. LV has a direct link to the pirating industry.

[Lollipop2000]

I thought Bahnhof Strasse in Zurich, Switzerland, was supposed to be the most expensive shopping street in the world. At least that's what I was told when I was there. Switzerland in general is very expensive.

I don't like shopping in Oxford St because the air is too polluted in London. I can't breathe.

I shop all the time in Grafton St., Dublin. It has a lot of normal shops and only a few expensive shops. The high rent is epidemic all over Dublin, so the rent is bad for them, but the shopping is okay. I wouldn't really call it a luxury shopping street. It only has one fancy department store.

[bhchao]

Lollipop, I believe you are talking about merchandise prices in BahnhofStrasse. Everything in Switzerland is super-expensive. A McDonald's burger there costs a little over $4.

I heard London is an expensive city where buying even water is not cheap.

[geraldc]

Tap water in the UK is potable, so you really don't have to buy mineral water...