Retail

Retail rents: The 10 priciest cities around the world

The steepest retail rents

Ron Antonelli | Bloomberg | Getty Images

A stronger U.S. dollar, the shift to online sales and a slowdown in spending by the affluent are no match for America's high-end shopping districts.

Despite this slew of negative macroeconomic trends, a new report by Cushman & Wakefield found that retail rents across the U.S. rose 6.9 percent for the year ended June.

These price increases helped one stretch of New York City solidify its ranking as the world's most expensive shopping street, as an economic slowdown and fewer visitors to Hong Kong caused rents in that city's high-end districts to taper.

Even with that decline, however, Hong Kong remained home to four of the world's top 10 most expensive shopping streets. In all, Cushman & Wakefield said rents rose in 35 percent of the world's streets over the past year.

For a complete list of the world's priciest streets for retailers, as determined by Cushman & Wakefield, click ahead.

(Rents listed are in U.S. dollars and are on a square foot/year basis.)

— By Krystina Gustafson
Posted 26 Nov. 2015

10. Lower Fifth Avenue (42nd Street to 49th Street), New York

An Ann Taylor store on Fifth Avenue in New York.
Scott Mlyn | CNBC

Average rent: $1,000
Annual rental growth: 2 percent

9. Via Montenapoleone, Milan

Luca Ghidoni | Getty Images

Average rent: $1,035
Annual rental growth: 25 percent

8. New Bond Street, London

Simon Dawson | Bloomberg | Getty Images

Average rent: $1,321
Annual rental growth: 12 percent

7. Mong Kok, Hong Kong

Mike Clarke | AFP | Getty Images

Average rent: $1,362
Annual rental growth: -12 percent

6. Avenue des Champs-Elysees, Paris

Jacques Demarthon | AFP | Getty Images

Average rent: $1,372
Annual rental growth: Flat

5. Madison Avenue, New York

Getty Images

Average rent: $1,500
Annual rental growth: 7.9 percent

4. Tsim Sha Tsui, Hong Kong

A shopper walks past bottles of perfume displayed inside the DFS Group Ltd. T Galleria store in the shopping district of Tsim Sha Tsui in Hong Kong, China, on Monday, Oct. 28, 2013.
Lam Yik Fei | Bloomberg | Getty Images

Average rent: $1,842
Annual rental growth: -11.9 percent

3. Central, Hong Kong

Moment | Getty Images

Average rent: $1,935
Annual rental growth: -12 percent

2. Causeway Bay, Hong Kong

Hong Kong's Causeway Bay shopping district.
PHILIPPE LOPEZ | AFP | Getty Images

Average rent: $2,399
Annual rental growth: -13.9 percent

1. Upper 5th Avenue (49th Street to 60th Street), New York

Victor J. Blue | Bloomberg | Getty Images

Average rent: $3,500
Annual rental growth: 3.6 percent