New York remains the world’s most expensive retail location, however London showed the strongest annual rent growth and moved up to become the second most expensive market, according to CBRE Research’s semi-annual Global Prime Retail Rents. London’s overall performance was emblematic of the broad strength in Europe, which was the only global region to register rent growth. Rents declined in the Americas, driven by weakness along the U.S. Eastern Seaboard. In Asia Pacific, rents fell, but key markets, notably Hong Kong, started to stabilize.
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