Delhi's Khan Market becomes the 24th most expensive area in the world, ranking down from last year:

News Topical, Digital Desk : Delhi's posh Khan Market area has dropped one spot to 24th on a global list of the most expensive retail locations, with annual rents of US$223 per square foot, according to property consultant Cushman & Wakefield (C&W). Last year, Khan Market was ranked 23rd on the list for the most expensive retail location in the world.

London's New Bond Street is the most expensive

London's New Bond Street has become the world's most expensive retail area, with annual rents of US$2,231 per square foot, according to a Cushman & Wakefield report released Wednesday. Via Monte Napoleone in Milan, Italy, has lost its top spot, becoming the second most expensive area in the world with annual rents of US$2,179 per square foot.

Global Report: 138 Key Urban Retail Locations

Global real estate consultancy Cushman & Wakefield has released its flagship retail report, "Main Streets Across the World 2025." It focuses on prime rents in 138 of the best urban retail locations globally. Hong Kong's Tsim Sha Tsui (Main Street Shops) ranked fourth on the global list, followed by Avenue des Champs-Élysées (Paris), Ginza (Tokyo), Bahnhofstrasse (Zurich), Pitt Street Mall (Sydney), Myeongdong (Seoul), and Kohlmarkt (Vienna).

Premium regions in India are attracting brands

Gautam Saraf, Executive Managing Director (Mumbai & New Business), Cushman & Wakefield, said, "India's most expensive neighbourhoods are demonstrating exceptional strength and growing global prominence. 'Premium' areas such as Khan Market, Connaught Place and Galleria Market are attracting international and domestic brands due to rising affluence and changing consumer preferences."

increase in rents

According to the report, rents in Gurugram's Galleria Market saw a 25 percent increase. This was followed by a 14 percent increase in Connaught Place in New Delhi and a 10 percent increase in Kemps Corner in Mumbai. The most affordable area in the Asia Pacific region is Chennai's Anna Nagar Second Avenue, where rents are US$25 per square foot per year.