Friday , June 18 2021

The fifth avenue in New York is no longer the most expensive in the world



New York.- The famous Fifth Avenue of New York, which houses both iconic buildings and luxury stores second place for renting commercial space the most expensive in the worldin particular, the corridor between the streets forty-nine and sixty.

Fashion brands by Prada, Versace, Dior, Louis Buitton or Cartier are just some of the names of this famous and expensive runner Fifth Avenue, with a rental price of $ 2,250 per square meter (0.09 square meters), according to the report "Main streets around the world", prepared by the American real estate company Cushman & Wakefield.

The famous New York street, which also houses the private residence of the current US President Donald Trump, was displaced from his reign this year Causeway Bay, in Hong Kong, which requires USD 2,671 for the same area of ​​rent, according to a report that publishes the Real Estate newspaper.

Causeway Bay, Hong Kong, requires $ 2,671 for the same place. Photo: AFP

No other city in the United States appears in the top ten on this list.

New Street occupies the third place Bond, in London, United Kingdom, with a retail price of 1.744 per square foot, followed by France, Italy and Japan.

The report also indicates that the third quarter of this year reflected the decline in the number of multi-family housing in Manhattan, where 4 490 units were completed, which is a decrease of 750 compared to the same period last year.

About half of these houses were built in lower Manhattan.

5 New York Avenue Photo: AFP

However, where there was no reduction, the rental price increases by about 3.2 percent, for the Manhattan monthly average of USD 3,635 per month.

But this number is even higher in other areas of the district, for example in southern Midtown, where there has been an increase of 4.5 percent during this period, which is about $ 4,178 a month.

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