A street in Lebanon is one of the most expensive streets in the world Date: Monday, November 28, 2016
By: World News
The 2016 - 2017 survey of the world's most expensive retail rental locations by property consultants Cushman & Wakefield ranked Hamra as the 2nd most expensive streetin the Arab region and 44th most expensive worldwide.
Last year, Hamra was ranked as the 48thmost expensive rental location and now renting in Hamra costs on average 93$/sq FT. Prime street in Qatar follows Lebanon in the ranking as the 45th where it costs on average 92$/sq FT per year. City Centre in Jordan is ranked as the 50th where it cost on average 65$/sq FT per year. Naturally, the first in the world was named to be Upper 5th Avenue (49th - 60th Sts) in New York - USA where it costs on average 3000$/sq FT per year followed by Hon Kong and Paris.
Rue Verdun and Kaslik are also mentioned in the report stating that 18.1 RENT US$/SQ FT/YR& 18.1 RENT US$/SQ FT/YR respectively.
It's interesting to see this report since most of the cities mentioned have increased in their rental prices since the last year.
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