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Gateway markets and luxury consumers supporting prime rents - Q3 2012

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Gateway markets and luxury consumers supporting prime rents - Q3 2012

CBRE’s quarterly tracking of global retail prime rents found the same markets that led the rankings in Q2 2012 continued to lead in Q3 2012. The top two markets, Hong Kong and New York, recorded significant rises in rents during the quarter, while the next tier — Tokyo, Sydney and London — held steady. Hong Kong was virtually in a class apart, with rent levels, measured in US$ per sq. ft. per annum, more than four times higher than fifth-ranked London and more than seven times higher than 10th-ranked Brisbane. Notably, the top-performing markets were all gateway locations with strong flows of international tourists seeking luxury products.

Source : CBRE

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Keywords : CBRE