Dublin's Grafton Street remains the sixth most expensive street in the world in which to rent a shop, a new survey has shown.
New York's Fifth Avenue and Causeway Bay in Hong Kong are the world's most expensive, according to the Main Streets Across the World 2006, an annual report by the Cushman & Wakefield real estate company.
The survey found that a square foot of rental space on Grafton Street cost $534 (€425), compared to $1,350 on Fifth Avenue, $1,134 on Causeway Bay in Hong Kong, $805 on Paris's Champs Elysées, $673 on New Bond Street in London and $652 in Ginza in Tokyo.
Grafton Street retained its place as sixth most expensive and was higher up the top 10 list than Zurich, Seoul, Sydney, Munich or Athens.
Cushman & Wakefield say that over-saturation of advertising is leading many big name retails to seek very visible property in major city centres as a way of catching the public's attention.
"In a world of advertising 'clutter', we see companies increasingly leveraging their brands through real estate, and Manhattan's Fifth Avenue is a prime example of this trend," said Gene Spiegelman, executive director of Cushman & Wakefield in New York. It now costs $1.35 million a year to rent an average 1,000sq ft (93sq m) unit on Fifth Avenue at its most expensive stretch at 57th Street.
New Delhi, India, has the biggest increase in rental prices of any city, with Khan market rising 17 places to 24th.