Main streets across the world 2013 - 2014

Cushman & Wakefield

Description

main streets across the world 2013 - 2014

Informations

• Publié par: Fil_Immobilier
• Publié le: 13 novembre 2013
• Nombre de lectures: 31
• Langue: English
• Poids de l'ouvrage: 2 Mo

Extrait

main streets
across the world
a cushman & w akefield research Publication 2013/2014main streets
across the world
a c ushman & w akefield r esearch Publication
GloBal oVerView 4introdUction
most eXPensiVe retail locations 5
cushman & w akefield is at the centre of retail, providing value added GloB al rental PerFormance 7
emea oVerView 8real estate services to our clients globally. w e monitor the evolution of
emealUXUr Y o Ver View 9the industry as well as global retail trends and practices to ensure our
austria 11clients can best position their businesses to capitalise on future trends.
Bahrain11
this edition of main streets across the w orld provides a detailed Belgium11Bulgaria 11analysis of retail property rental performance across the globe in the
channel islands 11
twelve months to June 2013. czech republic 11
denmark 12
estonia 12the information and data provided in this report are based on a
Finland12
comprehensive survey of cushman & w akefield’s international offices France 12Germany12and the editors are extremely grateful to them for their time, effort
Greece12
and assistance. hungary 13
ireland13
israel13our international representation is designed to facilitate the rapid flow
italy 13
of information across borders and is supported by a comprehensive Jordan 13Kazakhstan 13database of market information and regular liaison meetings. this
latvia 14
allows for the exchange of local market knowledge and expertise, and ebanon14ithuania 14for the co-ordination of strategy for international investment and
luxembourg 14
locational decision-making. republic of macedonia 14
norway 14
oman15information on the markets has been provided by
Poland 15
cushman & w akefield and its local partners listed in the table below: Portugal 15
romania15ussia15a Ustria inter-Pool
slovakia 15
Bahrain cluttons llclovenia16outh africa 16BUlGaria Forton international
spain 16
channel islands Buckley & coweden16
chile contempora servicios inmobiliarios witzerland 16
the netherlands 16colomBia Fonnegra Gerlein
turkey 17
denmarK red – Property advisers Ukraine17United arab emirates 17estonia ober-haus real estate advisersKingdom17
Finland tuloskiinteistöt oy americas oVerView 18
Greece Proprius sa americaslUXUr Y o Ver View 19
israel inter israel real estate agency Brazil 20
canada20ireland lisneyhile20
Jordan michael dunn & co.olombia 20
ecuador 20KazaKhstan Veritas Brown
mexico20
latVia ober-haus real estate advisers Usa 21
leB anon michael dunn & co. asia PaciFic oVerView 22
asia P aciFiclUXUr Y o Ver View 23lithU ania ober-haus real estate advisers
australia 25rePUBlic oF macedonia Forton international
china25
mala Ysia YY Property solutions hong Kong25
india 25new zealand Bayleys realty Group limited
indonesia 25
norwa Y malling & co. Japan25
malaysia26oman cluttons llc
new zealand 26
Per U commercial real estate services sac Philippines26
singapore 26r omania activ Property servicesouth Korea26
slo Venia slovenia invest taiwan26hailand 27 soUth aFrica Pro africa Property services
Vietnam27
switzerland sPG intercity
GloBal retail rents 28
thailand nexus Property consultants ltd.
technicalsPeciFication s 34
United araB emirates cluttons llc
all other information has been provided by cushman & w akefield. 32013 / 2014
a c ushman & w akefield r esearch Publication
GloB al o Ver View GloB al: rental Growth o Ver FiVe Years
6%
Prime retail rental performance across the world offered a varied
picture in the 12 months to June 2013, with regions, countries and
city sub-markets affected by a combination of local and macro 3%
factors. although global rental growth (3.2%) was slightly
tempered compared with the previous 12 months, values in the
0%
top retail locations held up well. indeed, of the 334 locations
surveyed, rents in 285 were either stable or rose when compared
with 2011/2012.
-3%
hence while rental performance globally was restrained, at least
for top locations the momentum behind the retail sector -6%
remained positive. despite being partly affected by slower
economic activity and in some cases increased retail supply, the
-9%americas led the way with an increase of 5.8% in prime rents. this
2009 2010 2011 2012 2013
growth was stronger than in other regions; however, it was down
source: cushman & w akefield
on the 10.9% rise recorded in 2011/2012, with the slowdown
particularly evident in south american markets.
GloB al: toP ten locations
asia Pacific (4.5%) was spurred yet again by strong double-digit cities location €/sq.m/ Us$/sq.Ft/
Year Yearincreases in hong Kong and good growth in Japan, south Korea,
hong Kong causeway Bay 24,983 3,017t aiwan and indonesia. indeed, further exceptional rises in the
three premier shopping destinations of hong Kong propelled new Y ork 5th a venue 20,702 2,500
them into the first, third and fifth spots of the most expensive hong Kong central 18,961 2,290
locations in the world. nevertheless, akin to the americas, the
new Y ork times square 17,389 2,100
region also witnessed a slowdown in rental growth over the year
hong Kong tsim sha tsui 16,911 2,042
to June. one part of the globe which did see rental growth
Paris a venue des champs-Élysées 13,255 1,601accelerate was emea, where retail market conditions
new Y ork east 57th street 9,937 1,200strengthened, fuelled by better economic news in europe, greater
new Y ork madison a venue 9,109 1,100finance availability, very active demand from luxury retailers and
generally improved consumer sentiment. the region saw an uplift london new Bond street 8,666 1,047
in rental values of 2.1%, with encouraging performances both in tokyo Ginza 8,152 984
w estern (2.4%) and eastern (2.6%) europe. source: cushman & w akefield
the ranking of the most expensive retail locations in each
GloB al: stronGest Growthcountry saw some movements over the year, but with causeway
45%Bay, hong Kong, still the costliest location, breaking the Us$3,000
40%per sq.ft per year barrier for the first time in the survey’s history.
Fifth a venue, new York, retained its second spot, while 35%
champs-Élysées in Paris remained in third place. however, the 30%
French location also witnessed one of the strongest rental rises
25%
(38.5%) in the world, extending its lead over the rest. in london,
20%
new Bond street continued to attract strong demand from
15%international luxury brands, rents increased by 15.6% and the
10%street became the fourth most expensive location in the world.
5%
economic risks remain for 2014 but conditions are expected to
0%
improve across most markets. the retailers’ push towards the best
and most sought-after locations will continue; however, limited
supply and prohibitive rental costs will create obstacles for some
brands, leading a number to look to alternative locations in close
proximity to the main thoroughfares. while cities will grow in
importance, a stronger focus on the use of all channels including
source: cushman & w akefield
online will also be seen to both speed and support expansion.
4
Annual Rental Growth to June 2013
Annual Rental Growth to June
Moscow
Kutuzovsky Prospekt
Almaty
Shopping Centre
Paris
Avenue des Champs-Élysées
Moscow
Novy Arbat
Moscow
Kuznetsky Most
Hong Kong
Tsim Sha Tsui
Buenos Aires
Avenue Cabildo
Hyderabad
Punjagutta
Paris
Avenue Montaigne
Paris
Rue du Faubourg St Honoré
Miami
Lincoln Road
Philadelphia
Walnut Streetmain streets
across the world
a c ushman & w akefield r esearch Publication
most eXPensiVe retail location in each coUntr Y
Hong Kong
New York
Paris
London
Tokyo
Milan
Zurich
Sydney
Seoul
Vienna
Munich
Moscow
Beijing
São Paulo
Barcelona
Singapore
Amsterdam
Oslo
Kuala Lumpur
Tel Aviv
Bogota
Toronto
Dublin
Kiev
Copenhagen
Prague
Auckland
New Delhi
Istanbul
Taipei
Athens
Helsinki
Ho Chi Minh City
Brussels
Stockholm
Dubai
Beirut
Luxembourg
Santiago
Almaty
Johannesburg
Budapest
Lisbon
Buenos Aires
Warsaw
Bangkok
Jakarta
St Helier
Muscat
Vilnius
Mexico City
Lima
Ljubljana
Bratislava
Bucharest
Quito
Riga
Caracas
Sofia
Skopje
Manama
Tallinn
Manila
Amman
0 500 1,000 1,500 2,000 2,500 3,000 3,500
US$/sq.ft/year
52013 / 2014
a c ushman & w akefield r esearch Publication
most eXPensiVe retail location in each coUntr Y
ranK ranK coUntr Y citY location rent rent
2013 2012 €/sq.m/Yr Us$/sq.Ft/Yr
1 1 hong Kong (china) hong Kong causeway Bay 24,983 3,017
2 2 Usa new Y ork 5th a venue 20,702 2,500
3 3 France Paris a venue des champs-Élysées 13,255 1,601
4 6