Shoppers from China wait for their guide in front of a Christmas installation outside Times Square shopping mall at Causeway Bay, Hong Kong, yesterday. New York’s Fifth Avenue ended its 11-year run as the world’s most expensive retail area, dethroned by Hong Kong’s Causeway Bay, according to a survey by real-estate services company Cushman & Wakefield. Luxury retailers are competing for the most coveted shopping destinations, pushing up rents, despite recent slower sales growth, Cushman & Wakefield said.Nov 16, 2012

Photo: Reuters

This photo has been viewed 386 times.

TOP top

Comments will be moderated. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned.