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Tsim Sha Tsui Retained Its Position as the World’s Fourth Most Expensive Shopping Street
- In the 35th edition of Cushman & Wakefield’s Main Streets Across The World report, Hong Kong’s Tsim Sha Tsui maintains its global ranking position as the world’s 4th most expensive retail street; whilst the area continued to top the APAC ranking as region’s the most expensive retail destination
- Rents on New Bond Street ($2,231 per square foot per year) have leapfrogged Milan’s Via Montenapoleone and New York’s Upper Fifth Avenue to top the global rankings
- 58% of tracked retail streets saw rent increases, reflecting demand for space far exceeding availability
HONG KONG SAR – Media OutReach Newswire – 19 November 2025 – London’s New Bond Street, where rents have risen by 22% in the past year to $2,231 per square foot per year (psf/yr), has been crowned the world’s most expensive retail destination for the first time, according to Cushman & Wakefield (NYSE: CWK).
New Bond Street has leapfrogged Milan’s Via Montenapoleone ($2,179 psf/yr), which last year became the first European street to top the global rankings, and New York’s iconic Upper Fifth Avenue ($2,000 psf/yr), in the 35th edition of the firm’s flagship retail report ‘Main Streets Across the World’.
New Bond Street’s rental growth has been fuelled by strong demand and limited supply, with the prime jewellery section between Clifford Street and Burlington Gardens becoming one of the most fiercely contested locations in global retail.
Globally, rents grew on average at 4.2% with 58% of markets experiencing rental growth. The Americas led regional rental growth at 7.9%, driven by currency effects in South America. Europe experienced steady 4% year-on-year (y-o-y) growth, with standout performances in Budapest and London. Meanwhile rents in Asia Pacific slowed to 2.1%, with strong growth in India and Japan offset by economic headwinds in Greater China and Southeast Asia.
Report author and Cushman & Wakefield’s Head of International Research, Dr. Dominic Brown, said:
“Prime retail corridors are benefiting from a convergence of factors including resilient economic growth, easing cost of living pressures, and a renewed appetite for discretionary spending. While growth trajectories will vary by market, the strength of flagship locations is clear. We’ve seen exceptional double-digit rental growth in select cities, even as others face pressure. The continuing importance of physical retail, particularly for deep and meaningful brand engagement in places where consumers want to be, reinforces the enduring appeal of the world’s premier shopping streets and we expect this momentum to strengthen as global conditions improve.”
Table 1: Main Streets Across the World – Global Ranking by Market 2025
| Global Ranking 2025 | Global Ranking 2024 | Location | Rent (USD/sq.ft/yr) | Rent (EUR/sqm/yr) | YOY (LCY) |
| 1 | 3 | New Bond Street, London | $2,231 | €20,482 | 22% |
| 2 | 1 | Via Montenapoleone, Milan | $2,179 | €20,000 | 0% |
| 3 | 2 | Upper Fifth Avenue (49th to 60th Sts), New York | $2,000 | €18,359 | 0% |
| 4 | 4 | Tsim Sha Tsui (main street shops), Hong Kong | $1,515 | €13,907 | -6% |
| 5 | 5 | Avenue des Champs Élysées, Paris | $1,364 | €12,519 | 0% |
| 6 | 6 | Ginza, Tokyo | $1,257 | €11,538 | 10% |
| 7 | 7 | Bahnhofstrasse, Zurich | $1,051 | €9,644 | 0% |
| 8 | 8 | Pitt Street Mall, Sydney | $795 | €7,294 | 4% |
| 9 | 9 | Myeongdong, Seoul | $653 | €5,997 | 1% |
| 10 | 10 | Kohlmarkt, Vienna | $601 | €5,520 | 2% |
| Source: Cushman & Wakefield | |||||
Asia Pacific highlights
Rental growth in Asia Pacific slowed from 2.8% in 2024 to 2.1% in 2025, though performance varied widely across markets. India’s Tier 1 cities led the region, with Gurgaon’s Galleria Market recording a 25% increase, followed by Connaught Place in New Delhi (14%) and Kemps Corner in Mumbai (10%). Japan’s Ginza and Omotesando in Tokyo saw strong growth of 10% and 13% respectively, while rents in Hong Kong’s Tsim Sha Tsui declined by 6% to $1,515 psf/yr. Sydney’s Pitt Street Mall recorded modest growth of 4%, reaching $795 psf/yr, marking a return to positive momentum after years of stagnation.
Hong Kong continued to feature strongly on the global rankings, holding its position as the fourth most expensive shopping location worldwide and the most expensive in the APAC region. Cushman & Wakefield’s Hong Kong Managing Director John Siu, said:
“We are pleased to see Hong Kong firmly maintaining its position as one of the world’s premier retail destinations, with Tsim Sha Tsui once again topping the list as the most expensive retail destination in the APAC region. This reflects the steady growth in visitor arrivals to Hong Kong, coupled with the government’s proactive efforts to promote tourism and the ‘mega events economy,’ which have supported more tourist spendings and boosted leasing activity among retail brands in prime street locations. In fact, since the border reopening, the market has recorded a series of leasing transactions involving retail brands opening their first stores in Hong Kong, most of which have chosen to establish their initial presence in the four core shopping districts. We believe that in the short to medium term, in addition to sustained activity from domestic brands, the market will continue to see more leasing activity from retail brands across the APAC region.”
Table 2: Main Streets Across the World – Asia Pacific Ranking by Location 2025
| APAC Ranking 2025 | APAC Ranking 2024 | Market | City | Location | Rent (USD/sf/yr) | Rent (EUR/sqm/yr) | YOY (LCY) |
| 1 | 1 | Greater China | Hong Kong | Tsim Sha Tsui (main street shops) | $1,515 | €13,907 | -6% |
| 2 | 2 | Greater China | Hong Kong | Causeway Bay (main street shops) | $1,374 | €12,610 | -4% |
| 3 | 3 | Japan | Tokyo | Ginza | $1,257 | €11,538 | 10% |
| 4 | 4 | Japan | Tokyo | Ometesando | $1,028 | €9,441 | 13% |
| 5 | 5 | Japan | Osaka | Midosuji | $914 | €8,392 | 14% |
| 6 | 6 | Australia | Sydney | Pitt Street Mall | $795 | €7,294 | 4% |
| 7 | 7 | Greater China | Hong Kong | Central (main street shops) | $726 | €6,669 | 1% |
| 8 | 8 | Japan | Tokyo | Shinjuku | $686 | €6,294 | 0% |
| 9 | 9 | South Korea | Seoul | Myeongdong | $653 | €5,997 | 1% |
| 10 | 10 | South Korea | Seoul | Gangnam Station | $578 | €5,302 | 4% |
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Source: Cushman & Wakefield |
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Link to the full report and full global rankings here: LINK
Hashtag: #CushmanWakefield #GlobalRetailStreets #RetailRealEstate #LuxuryRetail #PrimeRetail #HongKongRetail #APACRetail #MarketResearch #RetailTrends #CommercialRealEstate
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About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2024, the firm reported revenue of $9.4 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (
https://www.linkedin.com/company/cushman-&-wakefield-greater-china).
CUHK’s Academic Excellence and Global Research Impact
CUHK’s academic rigour is further recognised in the 2026–27 Best Global Universities Rankings by U.S. News & World Report, where it ranks 28th globally and 5th in Asia, remaining Hong Kong’s top university for the fourth consecutive year. The University features 15 subjects in the global top 50, including five in the top 10, such as Education and Educational Research (#1), Gastroenterology and Hepatology (#2), Computer Science (#7), and Arts and Humanities and Artificial Intelligence (both ranked #9).
CUHK: Where Bold Ideas Become Impactful Research
CUHK provides an exceptional environment for impactful research, supported by approximately 300 research institutes and centres, alongside four state key laboratories approved by the Ministry of Science and Technology of China. Reflecting on the academic environment, Zhamilya Zhirenova, a PhD student in Biomedical Science from Kazakhstan, has deepened her expertise through her involvement with the Centre for Neuromusculoskeletal Restorative Medicine (CNRM), an InnoHK research centre CUHK established with Sweden’s Karolinska Institutet.
Unlike traditional research pathways, where students are often confined to a single university laboratory, Zhamilya gained extensive experience at Hong Kong Science Park, a dynamic setting that closely resembles industry. “It feels more like an industrial company,” she reflected, “and that experience has been invaluable.” For researchers with ambitions beyond academia, such early exposure to the pace and expectations of the biotech industry provides a distinct advantage.
Nurturing the Next Generation of Scientific Innovators
Many of CUHK’s scholars are globally renowned experts who have made significant breakthroughs in their respective fields. These experts provide valuable mentorship, cultivating an intellectually stimulating environment for innovative research.
At the Centre for Novostics, an InnoHK research centre dedicated to advancing molecular diagnostics, Yasine Malki, a Chemical Pathology PhD student from Hong Kong, highlighted mentorship as a defining aspect of his experience at CUHK. Benefiting from the mentorship of Professor Dennis Lo, CUHK’s Vice-Chancellor and President, and a pioneer in molecular diagnostics, Yasine collaborates with specialists in molecular technologies, bioinformatics, and clinician-scientists, exemplifying CUHK’s dynamic, multidisciplinary approach to medical science.
Through the latest global rankings, CUHK continues to demonstrate the impact of its research and scholarship. The University offers robust financial support to attract top-tier global talent, such as the Hong Kong PhD Fellowship Scheme (HKPFS) for the 2027–28 intake, which provides over HK$1.81 million (approximately US$232,420) in funding. Applications open on 1 September 2026.
Hashtag: #CUHK
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About CUHK
Founded in 1963, The Chinese University of Hong Kong (CUHK) is a leading comprehensive research university with a global reputation and world-leading rankings. Located in the heart of Asia, CUHK has a vision and a mission to combine tradition with modernity, and to bring together China and the West. The University has eight faculties: Arts, Business Administration, Education, Engineering, Law, Medicine, Science, and Social Science. Together with the Graduate School, the University offers over 300 undergraduate and postgraduate programmes. All faculties are actively engaged in research in a wide range of disciplines, with an array of research institutes and research centres specialising in interdisciplinary research of the highest quality.
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HKDL’s Immersive Interactive Experiences Win Guests’ Hearts Lucky Nugget Spin at Grizzly Gulch Surpasses 30,000 Participations
Immersive experiences fuel collectible merchandise craze and extend magical memories
HONG KONG SAR – Media OutReach Newswire – 11 July 2026 – In tune with the growing popularity of experiential travel and guests’ desire for participation and immersive experiences throughout their journeys, Hong Kong Disneyland Resort (HKDL) has been integrating retail with storytelling at the park through an endless flow of innovative interactive experiences and distinctive merchandise offerings. Emotional connections with guests are strengthened as merchandise is transformed into meaningful souvenirs interwoven with their Disney memories.
Launched in April this year at Grizzly Gulch, the Chip ‘n’ Dale Lucky Nugget Spin has recorded more than 30,000 participations as of the end of June, becoming one of the park’s most popular activities. Combining storytelling, live interactions, and surprises, the experience has been warmly received by guests and has further enhanced the atmosphere throughout the land.
David Koo, director of merchandise at Hong Kong Disneyland Resort, shared: ‘Today’s guests are looking for more than products; they want keepsakes that capture the stories and memories of their visit. Through interactive experiences, we hope to make merchandise a natural extension of the Disney park journey. Whether it is a plush toy, a pin or an accessory, the true value lies not only in the item itself, but in the magical moments and personal memories it represents.’
David Koo, director of merchandise at Hong Kong Disneyland Resort, is pictured in the center
This story- and interaction-driven strategy has been incorporated into various guest experiences across the resort. For example, in an engaging experience at the Popcorn Pop-Up Shop on Main Street, U.S.A., guests can reach into a giant popcorn bucket-themed installation to catch a “popcorn” and reveal the hidden Pixar pals plushie together with Disney cast members on the spot. Meanwhile, the Snow White Grotto, located beside the Castle of Magical Dreams, has introduced a new “Lock of Dreams” experience, offering guests a sense of ceremony and a souvenir to cherish.
Disney’s Classic Pin Trading Tradition Extends the Magic Beyond the Visit
Disney’s iconic Pin Trading tradition has long been an important part of how guests explore the park and connect with others. Reopened in June, Main Street Collectibles now features dedicated pin display areas designed to celebrate and elevate this beloved tradition. Guests can discover unexpected treasures while searching for favorite designs as they trade pins with Disney cast members and fellow collectors. More than just an addition to a collection, each pin carries unique memories and extends the guest journey.
More Than 3.5 Million 20th Anniversary Merchandise Items Snapped up
New Pixar and Marvel Experiences on the Way
Merchandise sales grew continuously during Hong Kong Disneyland’s 20th anniversary celebrations, which attracted a large number of local, mainland, and international visitors and concluded with fanfare in June. Since late June last year, the resort has sold more than 3.5 million 20th Anniversary-themed merchandise. Among them, about 600,000 units of the SouvenEARS collection have been snapped up. Meanwhile, the blind-box series inspired by attractions and themed lands achieved sales of more than 500,000 units during fiscal year 2025, demonstrating the continued popularity of merchandise with strong storytelling elements and collectible appeal.
Looking ahead, HKDL will continue to enrich the guest experience across the resort. New Pixar-themed and Marvel-themed experiences will be introduced, further expanding both entertainment and retail offerings. Through ongoing innovation, HKDL remains committed to meeting guests’ demand for more immersive experiences, enhancing its appeal to local, mainland, and international visitors, and strengthening its position as a leading travel destination in the region.
Hashtag: #HongKongDisneylandResort
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The HR Asia Awards are among Asia’s most prestigious annual human resources awards, recognizing organizations that demonstrate excellence in workplace culture and sustainable people development. Winners are evaluated using the TEAM (Total Engagement Assessment Model), which measures employee engagement, organizational trust, and workplace experience, drawing on benchmarking data from more than 2.5 million employees across 20,000 organizations throughout the region.
According to the independent assessment conducted for the HR Asia Awards 2026, Green SM significantly outperformed market benchmarks in the “Best Companies to Work for in Asia” category, achieving outstanding scores across several key dimensions, including technology enablement in the workplace (4.8/5), workplace sustainability (4.71/5), and diversity, equity, and inclusion (4.72/5).
A defining element of Green SM’s workplace culture is its unwavering commitment to the principle that “Every Voice Counts.” This commitment is embedded through comprehensive employee engagement initiatives, including regular internal surveys, 360-degree performance evaluations, and multiple feedback channels that transform employee insights into tangible improvements in policies, workplace practices, and operational excellence.
At Green SM, talent development is viewed not merely as an HR function but as a strategic driver of service excellence. The Company continues to invest comprehensively in recruitment, professional training, operational standardization, workplace culture, and structured career development pathways for its Green Drivers. In parallel, Green SM delivers continuous capability-building programs for managers and employees, combining practical learning with digital learning platforms to strengthen leadership and management capabilities and organizational agility in an evolving business environment.
Alongside its investment in people, Green SM has been progressively building a unified organizational culture across its international markets. Rooted in values established in Vietnam while embracing the diversity of local cultures and communities, the Company fosters an environment that encourages collaboration, continuous learning, and empowerment. This enables teams across different countries to uphold consistent service standards while remaining responsive to the unique needs of local customers and communities.
Green SM also received the Technology Empowerment Awards in recognition of its continued digital transformation in human resource management. Through the digitalization of HR processes, the development of competency frameworks, the expansion of digital learning ecosystems, and the integration of data-driven people management, the Company has streamlined repetitive administrative tasks, enhanced decision-making efficiency, and enabled employees to devote greater focus to innovation, customer experience, and superior service delivery.
Mr. Nguyen Quoc Tuan, Global Chief Executive Officer of Green SM, said: “Our people have always been the cornerstone of Green SM’s sustainable growth. We believe that when individuals are empowered by technology and united by shared values, our teams across every market can deliver exceptional experiences for our customers. These two awards affirm the direction we have taken and further strengthen our commitment to building a truly multinational organization with its roots in Vietnam.”
In 2026, Green SM aims to expand its global workforce and partner network to approximately 400,000 people worldwide. As the Company continues to accelerate its international expansion, it will further invest in talent development and technology-driven people management to build a highly capable global workforce, maintain consistent service excellence across markets, and advance its vision of becoming the world’s leading green mobility platform.
Hashtag: #GreenSM
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