Location Group Research: Zurich Retail Rents are No. 1 in Europe
The most popular retail locations are in Switzerland
Un document
Zurich (ots)
- Indication: The register "Most expensive retail location in each Country" can be downloaded free of charge under: http://www.presseportal.ch/de/pm/100019131/?langid=2 -
At 10,000 Swiss Francs (7,500 Euro) per square meter, Zurich's Bahnhofstrasse is currently the most expensive place to rent in Europe and number 3 worldwide, after New York and Hong Kong. This is shown by the latest survey by the Location Group. Zurich is therefore the winner in the current retail rent index of all EU Member States. Before now, with respect to new leases Zurich regularly landed behind the Champs-Elysees in Paris and Bond Street in London on the list of most expensive retail locations. At the current Euro exchange rate, one must expect to pay rent of 9,790 Francs at the best business locations in London, as a study by Cushman & Wakefield shows. London is closely followed by Paris, where purchasing power is somewhat lower, and so monthly rents of 9,330 Francs (7,369 Euros) are asked. Zurich has been catapulted to the top by the current exchange rate.
Luxury brands are attracted to Switzerland because of the world's highest purchasing power. Geneva still benefits from its internationality and Zurich enjoys the image of the city with the highest quality of life in Europe. In the coming months, in Zurich we expect new business from abroad who have already secured their top sites," says Marc-Christian Riebe, CEO, Location Group, Zurich.
Geneva is catching up with prime rents for retail space with 7,400 Swiss Francs (5,564 Euros) per square meter per year. The high concentration of luxury goods in the border city is influenced by its visitors. Rich tourists and businessmen from the Middle East bring high profits to the luxury goods industry.
Contact:
Marc-Christian Riebe
CEO Location Group
Tel.: +41/44/225'95'00
E-Mail: mcr@location.ch
Internet: www.location.ch