The world can be quite an expensive place. And prices continue to increase with demand. Such was the case for all the places in our list of the most expensive streets in Asia. And as price per square feet increased, so did our awe! So today we look at the most expensive streets in Asia in the most expensive commercial hubs on this side of the planet.
6th: Zhongxiao East Road
We first look at Zhongxiao East Road in Taipei, Taiwan which is 6th on our list of the most expensive streets in Asia with commercial space costing up to $273 per square feet. That is nowhere near the most expensive but it’s still A LOT. A medium size shop of 1000 square feet would cost $273,000 (BDT 23,067,408). But the area has become a shopping hub popular for countless eateries and clothing outlets, flooding with visitors. You’ll find name like Zara, Uniqlo and a huge SOGO. It’s also the home of Glasense, a shop that makes hand-made lenses for glasses.
5th: Orchard Road
In 5th place is a shopping paradise that is close to my heart. I spent most of my teen years at the 25,000 square feet, three stories HMV (music) store and roaming around the entire street. But that was a long time ago.
Now, Orchard is even more in demand with shoppers and this has skyrocketed the cost in the area. Per square feet of commercial space can cost up to $336. That is a grand amount, but the place is bustling with people; enough to eventually cover all your costs.
If you do visit Orchard Road, start at TANGS, one of the country’s oldest department stores. Move on through ION Orchard and the ION Art Gallery. Walk over to Far East Plaza and get lost. Visit Oriole Coffee and Bar and don’t forget to drop by Wild Honey.
4th: Nanjing Road
At number 4, Nanjing Road is quite expensive at $438 per square feet. How do places cost this much? Well, the street is a busy place. It houses over 600 businesses with gigantic crowds, some that date back over 150 years. So over a few years, a smart business will flourish and forget about what the place had cost them (so to speak).
So as a visitor, what should you look out for? There are the giant brand names like Omega, Mont Blanc and Dunhill. But you’ll find everything from new age culture to jewelry shops dating back to 1848 here. Nanjing Road is a time capsule that many would kill to be a part of.
There is no real 3rd place on our list, only 2 locations tied for 2nd. The first is Myeondong in Seoul, South Korea. Costs go up to $882 per square feet here and yes, this expensive commercial hub is another shopper’s haven.
People come to Seoul from all over the world and Myeondong is a great attractor of tourists. There is no end to unique food on the streets here with countless skin care products to be found in tons of cosmetic shops. Brands like innisfree, Nature Republic, and The Face Shop have outlets here alongside popular non-cosmetic brands like Nike, Zara, Giordano, Uniqlo, and MCM. This paints the picture of why this place has become one of the most expensive streets in Asia.
2nd: The Ginza
The Ginza is the other expensive commercial hub tied-at-second of the most expensive streets in the world at $882 per square feet of property space. You’ve probably heard of The Ginza; it is the premier shopping district of Japan.
The Ginza got its name from the silver coin mint that resided here from 1612 to 1800; ginza means silver mint. There is no brand name you won’t find here and people can’t get enough. And to match the price of property and culture here, coffee can cost up to $10! But that won’t stop the huge number of people there to shop. The weekends even see the stop of motor vehicles on Chuo Dori between 12pm and 5pm so that everyone can walk around comfortably.
1st: Causeway bay
Causeway Bay is undeniably at the top of the list of most expensive streets in Asia. A commercial spot here will cost $2399 per square feet, nearly $1500 more than The Ginza at second place.
The incredible place is a highlight of Hong Kong and a must visit for hi-fashionistas, culturists, tourists and foodies. There is little the Bay doesn’t offer and it is with its abundance that comes such a hefty price tag. But even if you’re not looking for property here, do visit when you get the chance. See the Noonday Gun, You won’t regret it. All this activity has led to Causeway Bay becoming an expensive commercial hub that people are actually willing to pay to become a part of.
The most expensive streets in Asia are just that due to their immense crowds. The potential for business these places generate creates the high costs, but that never seems to stop people from investing. The business is worth it. Would you ever invest in any expensive commercial hub like the ones above if you had the money? What would you sell there? Let us know your plans in the comments section below.