Prague Street Na Prikope is progressing to the 65th most expensive street in the world from last year's 22nd place to this year's 19th place. The most expensive is the Causeway Bay in Hong Kong, and then the upper part of the Fifth Avenue in New York. Third place was London's Nev Bond Street, which is the most expensive street in Europe.
The annual rent at Na Prikope makes up about a tenth of the rent on Fifth Avenue. This is the result of a study by Cushman and Vakefield.
Cushman & Vakefield annually estimates 446 most popular shopping destinations in 65 countries each year. Ranking lists one of the most expensive streets in each country. According to this question, the average monthly rent per square meter in Na Prikope Street amounts to 230 euros (about 5970 kroons), an increase of five percent compared to the same period last year.
"Among the most expensive streets in the Czech Republic are Na Prikope and Paris Street. While the Paris destination of luxury brands, Na Prikope is a significant street in terms of tourism, frequencies and locations in historic Prague, mass labels, as well as premiums," the report said.
According to the partner of Cushman & Vakefield Jan Kotrbacek, Na Prikope is the most important trading class in the Czech Republic due to its strategic location, well-earned retailers and many incoming tourists and local residents. "In the near future, the attractiveness of this area will be further increased as a result of new projects, the most important of which is reconstruction of Savarina," Kotrbacek added.
In the future, Kotrbaček expects to improve the retail environment on Venceslava square and around the street Narodni. "The most important will be the overall revitalization of the lower part of Venceslava Square, the aforementioned Savarin project, the construction of a new multifunctional Venceslas Skuare 47 building with significant retail space, as well as the recently completed revitalization of the National Museum, which is very successful.
|Order 2018||Rank 2017||Location||City||Country||Rental (CZK / m2 / yr)|
|1.||2.||Causevai Bai||Hong Kong||Hong Kong||638 280|
|2.||1.||Upper Avenue||New York||USA||537 810|
|3.||3.||Nev Bond Street||London||United Kingdom||416 880|
|4.||5.||Avenue des Champs Elisees||Paris||France||362 950|
|5.||4.||Via Montenapoleone||Milan||Italy||350 190|
|7.||7.||Pitt Street Mall||Sydney||Australia||230 400|
|8.||8.||Mieongdong||Seoul||South Korea||261 960|
|19.||22.||On Prikope||Prague||Czech Republic||71 590|
Source: Cushman & Vakefield