Amsterdam's Kalverstraat most expensive retail street in the Netherlands
today Nov 14, 2018
Amsterdam’s Kalverstraat is the most expensive retail street in the Netherlands, by prime rental value. Globally, the shopping destination ranks at number 16 of most expensive retail streets in the world.
According to international commercial real estate company Cushman & Wakefield, who published the 30th annual Main Streets Across the World report, the rent at Kalverstraat is currently at €2,900 per square meter per year.
Frank van der Sluys, head of research at Cushman & Wakefield Netherlands, said in a statement: “Because the physical and digital world are increasingly interconnected, [we notice] less physical shopping and the number of visitors in many shopping areas is decreasing. We see a clear concentration movement from consumers to shopping areas and shopping streets that offer the right mix of brands and functions. Shopping areas where consumers like to stay. Retail rental prices remain at a high level in those areas.”
Kalverstraat offers a selection of Dutch and international retailers. These include chains and brands such as H&M, Zara, Hema, Perry Sport, Under Armour, WE Fashion, vanHaren, River Island, G-Star, Pull&Bear, Tommy Hilfiger, Balr, Superdry, America Today, Uniqlo and Saks Off Fifth. In addition to the store portfolio, the street is strategically located in the city center amongst tourist attractions, which makes Kalverstraat attractive for both retailers and visitors.
In 2017, Dutch market research company Locatus recorded that the overall footfall in the Netherlands increased by 5%, compared to 2016. Kalverstraat was also the busiest shopping street in the Netherlands in 2017, which was largely affected by tourism.
After the Kalverstraat, the most expensive shopping streets in the Netherlands named by the report are P.C. Hooftstraat, which is also located in Amsterdam; Grote Straat in Maastricht; Lange Elisabethstraat in Utrecht; Lijnbaan in Rotterdam; Spuistraat in The Hague; Demer in Eindhoven; and Ketelstraat in Arnhem.
According to the report, the most expensive shopping street in the world is Hong Kong’s Causeway Bay with a rent of €24,606 per square meter per year. The street defeated New York City’s Upper Fifth Avenue for the first time in five years as the most expensive shopping street in the world. The most expensive shopping street in Europe is London’s New Bond Street, which ranks at number 3 in the global ranking.
Copyright © 2019 FashionNetwork.com All rights reserved.