Stoleshnikov lane is out of the top ten most expensive shopping streets in the world

Moscow. November 18. Stoleshnikov lane in Moscow left the list of the most expensive streets in the world, according to a report from Cushman & Wakefield’s “Main streets across the world”.

Over the past year the cost of rent of shops on this street have fallen by almost 30%, to 3.8 thousand Euro per square meter. In the end, Stoleshnikov lane has moved from 10-th to 12-th place.

The leader of the rating in 2015 was the upper part of Fifth Avenue in new York, where rents increased by 3.6%, to a record 33.8 thousand Euro for 1 sq. m. per year.

The top ten also includes Hong Kong Causeway Bay, Champs Elysees in Paris, new bond street, London, Milan via Montenapoleone, Bahnhofstrasse in Zurich, Ginza in Tokyo, Vienna Kohlmarkt and West Nanjing road in Shanghai.

Analysts at Cushman & Wakefield note that rental rates fell in Russia and Ukraine due to the decrease in exchange rates of national currencies. In particular, on the Nevsky Prospekt in St. Petersburg the prices fell by 60%, which was the worst dynamics among all of the streets included in the study. On the 1st Tverskaya-Yamskaya street in Moscow the cost of renting fell by 58% to € 1032, while on Kutuzovsky Prospekt rates decreased by 52%, to 1,077 Euro.