Singapore — Cushman & Wakefield’s 2024 report on the world’s most expensive retail streets has placed three Asia-Pacific locations in the global top 10. The ranking underscores the region’s growing influence in luxury retail and commercial real estate.
Hong Kong’s Causeway Bay retained its position as the most expensive retail street in Asia, ranking second globally after New York’s Fifth Avenue. The district continues to attract international luxury brands despite economic headwinds, reflecting its enduring appeal as a retail hub.
Tokyo’s Ginza secured the third spot worldwide, highlighting Japan’s resilience in maintaining high retail rents. Ginza’s blend of heritage and modernity makes it a magnet for both domestic and international shoppers, reinforcing its status as a cultural and commercial landmark.
Sydney’s Pitt Street Mall entered the global top 10, marking Australia’s presence in the elite retail landscape. The mall’s strong performance reflects robust consumer demand and strategic urban planning that supports high‑end retail growth.
Corporate analysts note that Asia-Pacific’s representation in the ranking signals a shift in global retail dynamics. With rising affluence and tourism, the region is increasingly shaping the strategies of luxury brands and investors seeking long‑term growth.
Ultimately, the inclusion of Causeway Bay, Ginza, and Pitt Street Mall in the global top 10 illustrates how Asia-Pacific cities are not only competing with but also redefining global retail standards. For corporate leaders, the message is clear: Asia-Pacific is no longer a secondary market but a primary driver of global retail prestige.
