Shopping is not for the faintest of hearts, or at least not for the ones with shallow pockets. The popular saying “shop till you drop dead” might ring some bells in your mind. If you are a shopaholic, then you know how irresistible it is to outrun your shopping list once you get in the mood.
While the average shopping mall presents customers with a wide variety of choices, nothing tempts a shopaholic more than a popular shopping area. Splurging on big labels and brands is a common occurrence in many shopping streets around the world. Some cities, such as New York City, have even gone as far as eliminating sales tax on clothing and footwear to encourage tourist spending.
With big brands and glamorous displays everywhere you look, these shopping areas are also some of the most expensive real estate spots in the world. Most of these shopping areas boast stellar sceneries, have excellent weather and are close to highly rated dining places. As a result, they also attract the wealthiest persons across the globe.
The retail rents in these shopping areas are also some of the most expensive on the planet. Hence, only the most glamorous brands are able to rent a spot in these areas. Some of the best examples for these kinds of areas are New York’s Fifth Avenue and Honk Kong’s Causeway Bay, where annual rents can reach up to $3000 per sq.ft area. Here are the 10 most popular shopping areas in the world:
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10 Kohlmarkt in Vienna
Originally known as Coal Market, Kohlmarkt is one of the oldest streets in Vienna. Placed right at the center of Vienna, shoppers can look forward to many international brands here such as Akris, Diesel, Chanel, Bulgari Store, Ferragamo, Giorgio Armani, Gucci, Louis Vuitton and Tiffany. If you’re ever planning to buy a luxury gift, then Kohlmarkt is one of the best places to shop from. The average annual rent for a shop in Kohlmarkt is approximately, $536 per square feet. Chocolate lovers will be thrilled when they visit Demel, which is one of the best chocolate shops in Vienna, if not the world. Even if you are not interested in buying anything, the presentation itself is worth the visit.
9 Myeongdong in Seoul
8 Pitt Street Mall in Sydney
Pitt Street Mall is the pedestrianized area of Pitt Street located in Sydney’s central business district. Placed right in between Market Street and King Street, Pit Street Mall is one block long and one of the busiest shopping centers in Australia. The floor space rents here are perhaps one of the costliest in the world, going up to $850 per square feet annually. Shoppers can find many flagship brand stores and specialty stores in Pit Street Mall. Some of the famous ones include Myer, Glasshouse, David Jones, Sydney Arcade, Mid City Shopping Centre, Westfield Sydney, and The Strand Arcade. Thanks to the wide range of fashion merchandise available in Pitt Street Mall, it is also considered as Sydney’s Fashion Center.
7 Bahnhoffstrasse in Zurich
6 Via Montenapoleone in Milan
5 Ginza in Tokyo
4 New Bond Street in London
3 Avenue des Champs-Élysées in Paris
Known as the city of love, Paris has always been an international favorite when it comes to tourism and shopping. The Avenue des Champs-Élysées in Paris is arguably one of the most famous shopping destinations in the world. The street is adorned with cafés, cinemas, luxury boutiques, and the beautiful horse-chestnut trees on both sides of the road. Champs-Élysées is also home to well-known French monuments such as the Place de la Concorde and Arc de Triomphe. If upscale shopping is your goal, then you cannot go wrong with the Avenue. Some of the luxury shops that you can find here are Benetton, Adidas, the Disney Store, Gap, Nike, Zara, Hugo Boss and Louis Vuitton.
2 Fifth Avenue in New York
The area between the 49th Street and 60th Street in Fifth Avenue is lined with many prestigious boutiques, flagship stores, luxury department stores and fancy restaurants. This area has also consistently ranked as one of the most expensive shopping destinations in the world. Today, the annual retail rent here averages to around $2,500 per square feet. Fifth Avenue is home to some of the world’s most famous brands such as Louis Vuitton, Gucci, Prada, Tommy Hilfiger, Armani, Chanel, Omega, Diesel, and many more. Perhaps one of the most famous retail stores here is the Apple Store, which is popular for launching the latest Apple products at midnight. The penthouses perched up on the buildings in Fifth Avenue are also some of the most prized real estate in the world.
1 Causeway Bay in Honk Kong
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