The Champs Elysées, one of Paris’ shopping arteries, among the most expensive in the world
In terms of shopping and a concentration of labels, Paris remains one of the most attractive cities in the World. Recent shopping studies conducted by Savills and Cushman & Wakefield attest to the vitality of this sector.
Going shopping is as pleasurable an activity for tourists passing through Paris as it is for those (resident or not) that own a property in the capital. According to the 2015 edition of the flagship report by Cushman & Wakefield “Main Streets Across the World”, the French capital has once again distinguished itself this year.
The Champs-Elysées comes out top
Avenue des Champs-Elysées (8th arrondissement) is the most expensive shopping street in Europe based on rent, coming in ahead of New Bond Street in London. This reputable Parisian address has a “prime” rental value that hovers around €18,000/m2/year. The side of the street with “even numbers” is the most expensive because it is the side that gets the most sun.
Based on the analysis of 500 locations in some 65 countries, the Champs-Elysées is in third place in the global rankings, after the leader Upper Fifth Avenue in New York (€33.182/m2/year, +3.6%), and Causeway Bay in Hong Kong (€23.812/m2/year, -13.9%).
Other main streets in the capital continue to attract international luxury brands. Such is the case for rue Faubourg Saint-Honoré (8th arrondissement), the neighbourhood of Saint-Germain-des-Prés in particular, with the 2016 refurbishment of the commercial space of the Marché Saint-Germain. The Marais (4th arrondissement) has also experienced several notable developments in terms of its commercial offering with the recent springing up of luxury brands on rue des Archives, mere moments from BHV.
The strong draw of France
It is not only Paris’ shopping streets that attract new and established brands. A study carried out by Savills, published in November 2015 on the occasion of MAPIC 2015 (marché international de l’immobilier commercial / international retail property trade show), shows that the value of real estate in these commercial centres is on the rise. This sort of shopping always attracts more tourists and international investors. During the most recent MAPIC trade show organised in November, the American players were strongly represented, looking for entry points into the French market.