{"id":211533,"date":"2017-11-20T11:42:57","date_gmt":"2017-11-20T09:42:57","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=211533"},"modified":"2017-11-20T11:42:57","modified_gmt":"2017-11-20T09:42:57","slug":"the-most-expensive-shopping-centres-in-south-africa-in-2017","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/211533\/the-most-expensive-shopping-centres-in-south-africa-in-2017\/","title":{"rendered":"The most expensive shopping centres in South Africa in 2017"},"content":{"rendered":"

As Black Friday approaches, the biggest shopping event on the calendar, Sandton City remains the most expensive shopping space per square metre in South Africa in 2017.<\/p>\n

The 29th edition of Cushman & Wakefield\u2019s report: Main Streets Across The World, analyzed the top shopping streets in the world and ranked the most expensive locations in each country by their prime rental value.<\/p>\n

New York\u2019s Fifth Avenue has retained its top spot as the world’s most expensive retail area, while Hong Kong’s Causeway Bay has moved up to second. New Bond Street in London ranks third, while Via Montenapoleone in Milan ranks fourth.<\/p>\n

Avenue des Champs in Paris, which was the second most expensive retail area in the world in 2016, now ranks fifth.<\/p>\n

On an annual basis, is costs renters $3,000 per square foot to set up shop on Fifth Avenue ($28,262 per square metre per year). Hong Kong\u2019s Causeway Bay, despite a 4.7% fall in average rents, still costs $2,725 per square foot per year.<\/p>\n

\"\"<\/a><\/p>\n

In South Africa, Sandton City retains the most expensive retail spot, having passed the V&A Waterfront in 2016. It costs renters an average of R1,575 per square metre per month to rent at Sandton City – roughly R21,000 per square metre per year.<\/p>\n

At the V&A, it’s R1,391 per square metre per month (R18,500 per year).<\/p>\n

The table below show the most expensive shopping malls, main streets and areas in South Africa.<\/p>\n

South Africa\u2019s richest retail areas<\/strong><\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n
#<\/th>\nMall\/Area<\/th>\nCity<\/th>\nZAR\/sqm\/Month<\/th>\nZAR\/sqm\/Year<\/th>\n<\/tr>\n
1<\/td>\nSandton City<\/td>\nJohannesburg<\/td>\nR1 575<\/td>\nR21 030, (\u20ac1 265)<\/td>\n<\/tr>\n
2<\/td>\nV&A Waterfront<\/td>\nCape Town<\/td>\nR1 391<\/td>\nR18 510 (\u20ac1 117)<\/td>\n<\/tr>\n
3<\/td>\nEastgate<\/td>\nEast Rand<\/td>\nR1 000<\/td>\nR13 300 (\u20ac803)<\/td>\n<\/tr>\n
4<\/td>\nUmhlanga<\/td>\nDurban North<\/td>\nR360<\/td>\nR4 790 (\u20ac289)<\/td>\n<\/tr>\n
5<\/td>\nWest Street<\/td>\nDurban<\/td>\nR350<\/td>\nR4 655 (\u20ac281)<\/td>\n<\/tr>\n
6<\/td>\nCBD<\/td>\nPietermaritzburg<\/td>\nR220<\/td>\nR2 930 (\u20ac177)<\/td>\n<\/tr>\n
7<\/td>\nSt. Georges Mall<\/td>\nCape Town<\/td>\nR150<\/td>\nR1 990 (\u20ac120)<\/td>\n<\/tr>\n
8<\/td>\nCBD<\/td>\nClaremont<\/td>\nR130<\/td>\nR1 720 (\u20ac104)<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
\n

Read: These 12 major retailers are running Black Friday deals in 2017<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Cushman & Wakefield\u2019s report: Global Main Streets ranks the world’s most expensive shopping and retail by their prime rental value.<\/p>\n","protected":false},"author":10,"featured_media":197194,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[],"class_list":["post-211533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/211533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=211533"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/211533\/revisions"}],"predecessor-version":[{"id":211569,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/211533\/revisions\/211569"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/197194"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=211533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=211533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=211533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}