What Asian cities have similar luxury shopping streets as 5th Ave or the Champs Elysées?

[japanese001]

[_00_deathscar]

Originally Posted by goschio

Don't think Champs Elysées can compete with all these high end Asian shopping streets.

It can't, because it's not a luxury shopping street.

Champs Elysees is more comparable to Hong Kong's Causeway Bay area (exlcuding Lee Gardens).

Speaking of which, here is the Louis Vuitton at Lee Gardens, which whilst not as extensive as Canton Road or Central, has its fair share of luxury boutiques and car dealerships.



image hosted on flickr


image hosted on flickr

[Vapour]

Originally Posted by _00_deathscar

Just because Ginza is so superb and deserves it:

Prada Ginza



Tod's Ginza



Ginza's Louis Vuitton building is surprisingly crap.

These are not in Ginza but in Aoyama-Omotesando. Cheers.

[jlshyang]

KUALA LUMPUR, MALAYSIA

Bukit Bintang Shopping Belt

Malaysia's version of Orchard Road (in Singapore) pedestrian promenade, surrounded on both sides by malls and hotels. Most of the high-end stores are in the malls itself.

Shopping District of KL
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image hosted on flickr

image hosted on flickr
image hosted on flickr

image hosted on flickr
image hosted on flickr

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image hosted on flickr


Starhill Gallery - one of Southeast Asia's most exclusive mall
image hosted on flickr
image hosted on flickr
image hosted on flickr

[snapdragon]

ginza street before the bubble burst in 90 was selling at 1 million USD per sqaure metre .That is just insane .Even now after realestate has fallen by 99% Tokyo was the costliest city till 2007 before Moscow took over .In fact 5th avenue can never come close .

[RonnieR]

Ginza is awesome. The best

[Bricken Ridge]

Originally Posted by snapdragon

ginza street before the bubble burst in 90 was selling at 1 million USD per sqaure metre .That is just insane .Even now after realestate has fallen by 99% Tokyo was the costliest city till 2007 before Moscow took over .In fact 5th avenue can never come close .

Too bad Ginza does not come close to New York's Fifth Av and Madison Av's diverse international/ jet set clientele. It has the most diverse crowd. What's unique about Ginza is its homogeneity- despite all the international brand names smack on your face, the shoppers are 99 % Japanese.

[_00_deathscar]

Originally Posted by Vapour

These are not in Ginza but in Aoyama-Omotesando. Cheers.

Thanks for clearing up.

I just did a search for "[insert brand name] + Ginza", and those showed up. But since I've never been to Ginza or don't actually know much about it, I didn't know.

How far is Aoyama-Omotesando from Ginza?

[krull]

Originally Posted by snapdragon

ginza street before the bubble burst in 90 was selling at 1 million USD per sqaure metre .That is just insane .Even now after realestate has fallen by 99% Tokyo was the costliest city till 2007 before Moscow took over .In fact 5th avenue can never come close .

Yes Tokyo has some of the most expensive office space, but for the street, Fifth Ave is way more expensive. Ginza street is the one that can never come close.

What is impressive it that 5th avenue has way more homes/apartments than the other cities mention streets/avenues. So of course there is more competition for prices, yet still it manages to be in the top three.


Fifth Avenue World's Third Most Expensive Residential Street

By Lysandra Ohrstrom
August 5, 2008 | 2:53 p.m

With apartments fetching an average price of $7,500 per square foot, Fifth Avenue ranked third place in a new survey of the top 10 most expensive residential streets in the world from Barclay’s Wealth Bulletin. But if you thought top-tier residential prices in Manhattan were stratospheric, take a look at the two most expensive streets on the survey.

Avenue Princess Grace in Monaco ranked No. 1 in the survey with homes fetching an average of $17,750 a foot.

“Properties on the avenue change hands for up to $41 million – and many of them are fairly modest four-bedroom apartments,” the report said. (Granted, you’re also paying for ocean views and Monte Carlo’s exceedingly amenable tax policies.)

A pad on Hong Kong’s Severn Road will set you back about $11,200 a foot, earning it second place on the list. London's Kensington Palace Gardens, a.k.a “Billionaires Row,” came in fourth place with an average price of $7,196 a foot, followed by Paris’ Avenue Montaigne at $5,046.


http://www.observer.com/2008/real-es...-street-world#


And as for the retail, Fifth Avenue takes the cake as the most expensive...


5th Avenue world's most expensive shopping street


Published: 16 Dec 2008 01:29:50 PST

The world’s main shopping streets are proving largely resilient to the global economic downturn with retail rental levels rising or at least remaining stable in 94 per cent of 236 streets monitored. The findings were published by Cushman & Wakefields 23rd annual Main Streets Across the World report which provides a global barometer of the strength and popularity of shopping streets in 48 countries.

New York's Fifth Avenue is once again the world's most expensive shopping street where retailers can now expect to pay rents of $1,850 per square foot/€12,612 per square meter of sales space per annum, an increase of 23 per cent on 2007. The most expensive streets in Hong Kong, Paris, Milan and Dublin make up the rest of the top five but London and Tokyo have dropped down to six and seven respectively. Dublin has been the best performer in the top ten with the city's Grafton Street rising two places in the ranking to enter the world's top five most expensive streets for the first time. Retailers entering the street can now expect to pay $824 sq ft per annum, a rise of 5.3 per cent on 2007.

Gene Spiegelman, executive director, Cushman & Wakefield New York said: “Through midyear 2008 Fifth Avenue consolidated its position as the world's most expensive retail address with prime rents around $1,850 sq ft. Ground level retail rents, however, broke the $2,300 sq ft barrier with the lease to Abercrombie at 666 Fifth Avenue. Fifth Avenue continues to deliver the key retail drivers of high turnover and high profile brand positioning in front of international consumers.

“As we close 2008, we anticipate retailers will critically assess substantial rent and capital commitments but will continue to exploit the value of limited prime main street positions in keeping with long term strategies. The subject rents may appear unsustainable at this moment in time but, placed in strategic context, these commitments represent exclusive long term opportunities for a highly competitive group of global retail brands who recognize the value of flagship real estate as an effective vehicle for brand communication. We expect this trend to continue.”

John Strachan, global head of retail, Cushman & Wakefield said: “Demand for often scarce prime retail space on the world's main streets is being driven by a number of factors. For luxury and high end retailers, a presence on the most prestigious streets is deemed essential for brand positioning, sometimes regardless of how profitable a store might be. Such brand profile helps to drive revenue through other channels such as the internet, and sales of product lines such as perfumes and accessories which are sold more widely.”

High end international retailers are continuing to expand into new overseas markets and are generally taking a longer term view looking ahead of the economic cycle. This is most clearly the case with relatively emerging markets in all of the world's regions - Turkey and Russia in Europe, Argentina and Brazil in the Americas, and India in Asia. In India, Mumbai's Colaba Causeway showed the strongest growth with rents rising over 182 per cent to $269 sq ft per annum. Six out of the ten retail streets in Asia with strongest rental growth were in India.


http://news.alibaba.com/article/deta...expensive.html


Oh and Madison Ave is not too far. And look at East 57th street! More expensive than Ginza.


World’s Most Expensive Shopping Districts


by anjan, May 15, 2009

Here is a list of a few places where all the money in the world is not enough because there are the most expensive places to shop on earth.

Cushman& Wakefield "Main Streets across the World" study examines the highest priced rental space in the world's most prominent shopping locations. Generally, they are major centers of commerce in large metropolitan areas and come with a hefty price tag. All numbers taken from C&W November report are in US dollars and represent the average annual cost to rent a 1,000 square feet of commercial space for a year.

Rodeo Drive - Los Angeles - $600,000. It is where the celebrities shop and is home to famous boutiques such as Armani, Gucci, Ralph Lauren, Tiffany and Yves Saint Laurent. Bijan, which has the reputation for allowing shoppers to browse "by appointment only," has a 6 oz. bottle of men cologne for $3,000. You'd need to sell at least a few of those bottles to cover Rodeo Drive's yearly rent, which averages around $600,000.

Oxford Street - London - $631,000. The 1 1/2 miles of Oxford Street are dotted with specialty stores and crossed by other prominent shopping streets. Locals claim Oxford to be one of the busiest streets in Europe. It has shops from large multinational corporations to the famous Selfridges department store. One year's rent costs an average of $631,000. Maybe you'll save a tad by paying in pounds.

Grafton Street - Dublin - $668,000. Shopping in Ireland's capital and largest city happens on and around Grafton Street. Its residents include Weir Jewelers, St. Steven's Green Shopping Centre and Brown Thomas. If you're interested in renting some store space, be prepared to fork over $668,000 for a year's rent.

Ginza - Tokyo - $683,000. Tokyo's most famous upscale shopping district, fetches worth over 10 million Yen for three square meters. Cushman and Wakefield found Tokyo's prestigious district, home to the Sony Building, numerous high-class boutiques and six large department stores, worth $683,000 a year for 1,000 square feet.

New Bond Street - London - $813,000. New Bond Street is one of the most central and prominent shopping locations in London. Comprising one half of the "Bond Street" shopping district, it is geographically north of its counterpart, Old Bond Street. Sotheby Londonheadquarters, Armani and numerous small art boutiques can be found there. Average yearly rent for 1,000 Sq ft is $813,000

East 57th Street - New York - $900,000. On the east side of Manhattan, this famous shopping strip runs from Third Avenue to Fifth Avenue. The Chanel headquarters, the Hammacher Schlemmer flagship store, Burberry and Tiffany & Co. all line the street. For $900,000 a year, per square foot, you could peddle your goods alongside these retail giants.

Avenue des Champs Elysees - Paris - $922,000. One of the most prestigious avenues in Paris, it is the most expensive shopping district in Europe. Champs Elysees boasts the largest Louis Vuitton department store in the world, continental Europe's largest Gap and Virgin Mega-store, as well as countless other prominent names. For $922,000 a year, you too fly the flag.

Madison Avenue - New York - $1.20 Million. Madison Avenue boasts some of the world's most upscale boutiques, including Prada, Giorgio Armani, Ralph Lauren, Gucci and Barney's flagship store. Rent doesn't come cheap. At a cool $1,200 per square foot, these high-end retailers pay a premium.

Causeway Bay - Hong Kong - $1.21 Million. On the northern shore of Hong Kong, Causeway Bayis a preeminent shopping districts, dotted with famous locations such as the 13-story Sogo Department store and Times Square Hong Kong. The annual rent speaks for itself: Costing an average of $1,213 per square foot, the price illustrates how dear space in the financial capital.

Fifth Avenue - New York - $1.50 Million. One of the most famous shopping destinations in the world is also the most expensive. With flagship stores like Abercrombie & Fitch and Apple, the Fifth Avenue shopping district is the Mecca of popular trends. At the heart of Fifth Avenue, yearly rent costs a ghastly $1,500 per square foot. That's $1.5 million for 1,000 sq ft storefront.


http://www.trifter.com/Practical-Tra...stricts.710279


Look how much money the Apple store on Fifth Ave is making!!


June 2, 2009

No recession at Apple's Fifth Ave. NYC store





by Erica Ogg

Apple's clearly onto something with its 24-hour store plopped down in a tourist hot spot.

The New York Post reports that as of sometime last year, Apple was pulling down $440 million a year in sales at its Fifth Avenue Apple Store in New York City. The numbers surfaced in the paper's investigation of empty retail space along Fifth Avenue.

Even if it is a high-end retail outpost for Macs, iPhones, and iPods, that's an impressive amount of money coming in when seemingly every retailer was clobbered by the arrival of the current recession. By comparison, the SoHo Apple Store rakes in about $100 million per year, according to the Post. And one of Apple's newest locations, in the prime shopping district of the ritzy California coastal town of Santa Barbara, is expected to pull in $20 million annually.

It's interesting insight into the company's flagship location, since Apple does not break out individual stores' take. The company did report in its second-quarter earnings filing that its 252 stores worldwide brought in $1.47 billion collectively for the quarter.

All of this explains why the company has not stopped investing in its retail presence. Apple's senior vice president of retail, Ron Johnson, said last week that 100 of its stores will be remodeled this year to allow for bigger displays and room for customer training courses.

The shopping frenzy at the tourist-clogged Fifth Avenue location isn't like to abate anytime soon, particularly if Apple releases new iPhone hardware next month, as is widely expected.


http://news.cnet.com/8301-13579_3-10254695-37.html

[krull]

Now that is clear. Lest get back to these fantastic Asian streets.

[_00_deathscar]

My penis is bigger than yours.

http://blogs.naiglobal.com/nai_globa...worldwide.html

Hong Kong Named Most Expensive Retail Commercial Real Estate Market Worldwide

Hong Kong Highest Reported Rents Top $1,858 per SF

New York City, San Francisco, Chicago Top List of Highest-Priced U.S. Retail Markets

Hong Kong lays claim to the most expensive retail space in the world with peak rents of $1,858 per square foot, according to NAI Global’s 2009 Global Market Report.
Chart 1

“Hong Kong is the shopping capital of the Asia-pacific region, and has benefited greatly from international tourism and increasing travel from China,” said David Solomon, President of NAI ReStore, the retail arm of NAI Global. “It is one of the world’s most desirable retail markets in the world for high-end retailers.”

New York City’s Midtown Manhattan market was close behind Hong Kong with peak rents of $1,400 per square foot for prime retail locations, and Paris, France, ranked third with peak rents of $1,394 per square foot. London, last year’s highest priced retail market, fell to number four in 2008, with peak rents of $1,077 per square foot, a $352 per square foot decline from the previous year.

In addition to New York City’s Midtown Manhattan market, the most expensive downtown/CBD retail markets in the U.S. include San Francisco at $750 per square foot and Chicago at $450 per square foot. Los Angeles’ Rodeo Drive, at $360, and Philadelphia, at $145, also made the top five U.S. retail markets.

“All of these markets benefit from a large, affluent local population, a vibrant downtown environment and strong tourism/convention trade,” Solomon added.
Chart 2

NAI Global is one of the world’s largest commercial real estate services providers. Headquartered in Princeton, New Jersey, NAI Global manages a network of 5,000 professionals and 325 offices in 55 countries. Now in its 23rd year, NAI’s Global Market Report offers insider insight and perspective on market conditions reported by NAI experts on the ground in more than 200 property markets worldwide.

[krull]

Originally Posted by _00_deathscar

My penis is bigger than yours.

Are you sure?

Anyway, seems that Hong Kong it is taking the top expensive retail space this year. What street has these $1,858 per square foot prices? The article is not been clear.

So Fifth Ave retail in prime areas have dropped from the hight of $1,850 to $1,400 per square foot it seems. I don't doubt it with the bad economy going on this year. But like I say the retail streets in Tokyo are not even mention as most expensive than Fifth Ave.

[BearCave]

Originally Posted by Bricken Ridge

Too bad Ginza does not come close to New York's Fifth Av and Madison Av's diverse international/ jet set clientele. It has the most diverse crowd. What's unique about Ginza is its homogeneity- despite all the international brand names smack on your face, the shoppers are 99 % Japanese.

Who cares??

[_00_deathscar]

Originally Posted by krull

Are you sure?

Anyway, seems that Hong Kong it is taking the top expensive retail space this year. What street has these $1,858 per square foot prices? The article is not been clear.

So Fifth Ave retail in prime areas have dropped from the hight of $1,850 to $1,400 per square foot it seems. I don't doubt it with the bad economy going on this year. But like I say the retail streets in Tokyo are not even mention as most expensive than Fifth Ave.

Not a flipping clue. To be fair, none of the articles actually mention which particular street in regards to Hong Kong - they just say Causeway Bay.

Reportedly it's Lockhart Road/Hennessy Road/Yee Wo street - the area around 'central' Causeway Bay - Sogo, although rents on Russell Street in front of Times Square are also supposed to be sky high.

This article, recently published, says different anyway:
http://www.propertywire.com/news/com...906023142.html

Global downturn pushing Hong Kong's premier retail rents lower
Written by Colliers Intl. (Hong Kong)
Tuesday, 02 June 2009
Prime Hong Kong retail rents pushed lower

After a string of upward moves, premier streetfront rents in almost every region of the world moved decidedly lower during the past 12 months, according to Colliers International's Global Retail Highlights – Spring 2009.

The rental decline in Asia appeared to be less severe. Hong Kong at US$1,192 per sq ft per year ranked the top in Asia and the third in the world, a 3.8% YoY decline.

Following Russell Street in Causeway Bay, Ginza in Tokyo and Orchard Road in Singapore took the second and third spots in Asia respectively. The premier streetfront rents in Ginza fell 12.9% YoY at US$590 per sq ft per year. Orchard Road dropped 11.8% YoY at US$324 per sq ft per year. Two Chinese cities – Shanghai and Beijing – made it to the top 50 retail strips the first time. The retail rents in Nanjing Road West, Shanghai rose to US$245 per sq ft per year while the rents in the Mall at CWTC, Beijing increased 25.5% at US$196.

According to the Global Retail Highlights report, New York's Fifth Avenue remained the most expensive retail street in the world, at US$1,400 per sq ft per year, a YoY drop of 15%. It was followed by Champs Elysees in Paris at US$1,203 per sq ft per year, a YoY decline of 18%, and Russell Street in Causeway Bay at US$1,192 per sq ft per year, a YoY drop of 3.8%.

Collier's is a more reputable source in any case.

Back to pictures of the thread in question?

[dnobsemajdnob]

Basically, the Ginza in Tokyo is the only western-style, premium shopping avenue.

HK has a few stores here and there (and none on a beautiful avenue), though most of its high-end stores are in malls. Otherwise, other cities' stores are all in malls like the one in KL.

[Minato ku]

Don't forget Omotesando in Tokyo.

[Chrissib]

Originally Posted by Bricken Ridge

Too bad Ginza does not come close to New York's Fifth Av and Madison Av's diverse international/ jet set clientele. It has the most diverse crowd. What's unique about Ginza is its homogeneity- despite all the international brand names smack on your face, the shoppers are 99 % Japanese.

What is so bad about it? Not every nation is founded by immigrants. And isn't it good to have some identity as a people?

[kyenan]

Although not as rich as New York City or Tokyo, Seoul has some luxury shopping area, which is the areas of Apkujeong and Cheongdam in Gangnam disctrict. They are closeby, as though they are in one area.

I upload here some pix of the area.

[Vapour]

Originally Posted by _00_deathscar

Thanks for clearing up.

I just did a search for "[insert brand name] + Ginza", and those showed up. But since I've never been to Ginza or don't actually know much about it, I didn't know.

How far is Aoyama-Omotesando from Ginza?

5.5 kms according to google maps.

[bayviews]

Originally Posted by kyenan

Although not as rich as New York City or Tokyo, Seoul has some luxury shopping area, which is the areas of Apkujeong and Cheongdam in Gangnam disctrict. They are closeby, as though they are in one area.

I upload here some pix of the area.

The South Koreans are even deeper in consumer debt than the Americans, a big contrast to the rest of Asia. Maybe that's why the sidewalks aren't that crowded.