Stoleshnikov makes it into top ten dearest shopping locations

Nikolai Pozdeev/

Stoleshnikov: Central Moscow’s exclusive Stoleshnikov shopping precinct is now the tenth most expensive street in the world to own a shop, according to real estate experts Cushman & Wakefield. It is the first time in over ten years that a Russian street has made it onto this particular list with annual rental rates last year rising to 20% to reach €4750 per m². “A number of luxury brands, including Moncler, Gucci, Swatch, Tourbillon, Jaguar, signed rental deals last year to be present in Stoleshnikov, which shows the attractiveness of this area,” said Maxim Karbasnikoff, the head of retail services at Cushman & Wakefield in Russia. New York’s Upper Fifth Avenue, Hong Kong’s Causeway Bay and Paris’ Champs-Elysees were three most expensive streets in the world in 2013. The Moscow Times