Cushman & Wakefield said retailers paid an average of €160 per square meter per month for space on Luxembourg City’s main shopping street, as of June 2019.

That is far behind the top three locations: Causeway Bay in Hong Kong (approximately €2,164), Fifth Avenue in New York City (€1,775) and New Bond Street in London (€1,352).

Rents on the Grand-Rue in Luxembourg were similar to those on Bloor Street in Toronto and Meir, the main shopping street in Antwerp.

Grand-Rue was ranked 22nd most expensive in the real estate firm’s 2018 study.

The report, “The DNA of real estate – Q3/2019”, was published by Cushman & Wakefield on 4 November.