Delhi’s Khan Market is the 22nd most expensive retail market in the world in terms of rent.

New Delhi, November 21 (Language) Delhi’s Khan Market is the 22nd most expensive retail market in the world in terms of rent. The annual rent here is $217 per square foot. Real estate consulting company Cushman & Wakefield said this in a report.

Khan Market was ranked 21st in this list last year.

The company released its report ‘Major Markets of the World’ on Tuesday. In this, the rent of retail land or shops in the major markets of the main cities of the world has been analyzed.

Cushman & Wakefield said in a statement, “Delhi’s Khan Market is among the top 25 most expensive major markets in the world. “Khan Market is ranked 22nd in the prestigious global key markets list with current rent growth of seven per cent (during the September quarter) compared to pre-COVID-19 pandemic and three per cent year-on-year growth.”

New York’s Fifth Avenue has retained its top ranking as the world’s most expensive retail street. Milan’s Via Montenapoleone climbed one place to second place, displacing Hong Kong’s Tsim Sha Tsui. Tsim Sha Tsui slipped to third place.

New Bond Street in London retained fourth place and Avenue des Champs-Élysées in Paris retained fifth place.

The biggest jump was made by Istanbul’s Istiklal Street, which jumped from 31st to 20th amid inflation, the consultancy said. Its fare more than doubled compared to last year.

Cushman & Wakefield said the top five markets in India are Khan Market, Connaught Place (Delhi), Linking Road (Mumbai), Galleria Market (Gurugram) and Park Street (Kolkata).

Language Anurag Raman

Raman