New York is still the most expensive city commercial areas in the world

Rent a first class retail space decreased in almost every region in the world, as global recession seriously affected consumer attitudes and retail sales indicates a new study of the consulting company CB Richard Ellis (CBRE).
Demand for commercial areas reported a decline in most markets around the world in terms of reduced consumption and a continued rise in unemployment.
Developing and less established markets have been most seriously affected. Largest annual decline in tenancy levels recorded in Buenos Aires, where they decreased by 37 percent, followed by Warsaw with 33% and Washington by 26 percent. Although some markets have continued to report annual rastove, in most cases the pressure is downwards.
Despite the annual decrease of 10% New York is still the most expensive commercial destination in the world with rental levels in 1800 dollars per square feet (14 623 dollars per square meters) per year for the first quarter of 2009 This is more than of double rent in Hong Kong, which ranks second with 975 dollars per square feet (7903 dollars per square meters) per year. Moscow and Tokyo is ahead now occupies third position, followed by Paris and Tokyo, which form the five most expensive locations in the world.
Nick Aksford, Director of Studies and Consultations „in the company for Europe, Middle East and Africa, said the decline registered in most markets: Some traders take advantage of this opportunity to thin market to negotiate better rental terms. Landlord shall endeavor to avoid the appearance of vacant areas and in some cases, this makes them more willing to seek compromise with the tenants who are in position to run. However, owners of the best areas are usually kept in their conditions, we believe that every empty store will be hired immediately. A few successful traders use options to move to better locations as soon as they appear free areas most prestigious shopping street.
Moscow, Paris and London the most expensive locations in Europe. Risk of lower demand and rising vacant land led to a decrease of 3 percent of the company in the index for rents of commercial areas in the EU for the first quarter and a decrease of 1.2 percent on an annual basis.
Rate of wage growth in Europe has decreased continuously from its peak of 5 percent on a quarterly basis, reported in mid-2007 rents in some locations as a first-class Barcelona, Athens and Dublin decreased by 10% or more.
Demand for retail space reported decrease in most European markets, although there are several positive trends, driven mainly by cost shop chain, which announced plans for expansion. There are also indications that in some places in Europe, traders negotiate more favorable and flexible terms with landlord in exchange for extended leases, the report says.

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