Calea Victoriei – European record in rent drops / 5th Avenue remains the most expensive commercial area in the world even if rents dropped by 8.1%

5th Avenue, the famous boulevard in New York maintained, for the 8th year in a row the title as most expensive commercial area in the world, outclassing Causeway in Hong Kong or Champs Elysees from Paris, a Cushman and Wakefield study claims, quoted by AFP.

Bucharest holds the European record when it comes to rent drops – rents dropped by 48.1% on Calea Victoriei. On a global scale, the highest decrease of rents were registered in Mumbai, where the price paid for rents on Colaba Causeway dropped by 63.5%.