Mumbai: New Delhi’s Khan Market is the world’s 21st most expensive retail high street, according to an annual survey by global real estate consultants Cushman & Wakefield.
The survey ‘Main Streets Across the World 2010´, states that India has improved its position from 24 in 2009 on the back of strong rental value movement this year.
While New York’s Fifth Avenue retains its position as the most expensive shopping destination in the world, Hong Kong’s Causeway, and Ginza in Tokyo are in the second and third places ahead of London, Paris and Milan in the 2010 survey, the firm said in a release here today. The study was done among 269 shopping locations across 59 countries.
Khan Market is ranked above expensive Mumbai’s Linking Road in Bandra and New Delhi’s Connaught Place.
“With the markets gaining momentum and retailers globally revising their expansion plans in India, we see a gradual resurgence in values. New Delhi and Mumbai will continue to witness a faster growth rate in value against others due to greater interest in these markets.
“However, cities like Bangalore, Chennai, Pune and even Ahmedabad, have experienced a growth over the previous year,” Cushman & Wakefield India Executive Director Kaustuv Roy said.