Dublin has ranked ninth in a league table of the world's most expensive places to have a retail business, the latest survey from CB Richard Ellis (CBRE ) shows.
Dublin is more expensive than Los Angeles and Milan but cheaper than New York, Hong Kong, Moscow and London which make up the top four.
The average price of retail space per square meter in Dublin is $4,688 a year compared to Los Angles at $4,586, New York at $16,817 and London at $6,378.
Retailers are focusing on some of the major global fashion capitals, pushing rents in the world's most expensive retail locations even higher, according to CB Richard Ellis' (CBRE ) latest Global Retail Rents Survey.
Some smaller and secondary retail cities continue to see strong levels of growth, however global fashion capitals such as Hong Kong, London and Los Angeles now sit alongside these markets in the company's top 25 fastest growing retail rents index, whilst simultaneously claiming some of the most expensive retail rents in the world.
Despite deteriorating economic conditions, the retail sector has to date continued to perform relatively well. Half of the markets surveyed saw retail rental growth in the past year (ending Q3 2008 ), with 65pc of those seeing increases over the last six months. New York's 5th Avenue remains the world's most expensive retail destination, with rental values reaching €16,817/sqm/annum, more than 75pc higher than Hong Kong, the second most expensive location. Also making the top five most expensive retail destinations globally are Moscow, London and Tokyo.
