CBRE: retail real estates become more expensive worldwide

Retail property rents increased in New York, London and Tokyo among the world's five largest cities in the second quarter of this year. In Budapest a small increases is expected next year – CBRE global real estate consultancy told MTI on Monday.

Hong Kong, with its average annual rent per square meter is the most expensive with 35 756 euros per square meter. New York follows the Asian metropolis with 25 756 euros, and Paris, where a specific rent is 10 080 euros.

Despite the high rents, traders continued to strengthen their presence in Hong Kong, taking advantage of the growing luxury goods. According to the CBRE, 51 brands opened new stores in Hong Kong last year. (MTI)