Seoul's Myeong-dong district has the tenth highest rental rates in the world. According to Cushman & Wakefield Healey & Baker, the English company that specializes in real estate analysis, announced Friday that New York's Fifth Avenue had the most expensive rent, with annual rent of US$10,226 per square meter.
Avenue des Champs Elysees in Paris, with retail space costing US$7,648 per square meter, ranked second, followed by Hong Kong's Causeway Bay with US$6,126 and London's Oxford Street.
In the Asia-Pacific region, Hong Kong's Causeway Bay ranked first, followed by Sydney's Pitt Street Mall and Tokyo's Ginza district. Seoul's Myeong-dong and Gangnam ranked fourth and fifth respectively.