Revealed: The world's most expensive shopping street This compares to $2,735 per sq at Causeway Bay in Hong Kong and $1,556 per sq ft on the Champs Elysees in Paris, which retained its third place. New Bond Street in London remained in fourth with rents of $1,216 per sq ft, up 4.2pc on last year. Pitt Street Mall in Sydney rounded off the top five after a 25pc surge in rents over the last year as international retailers piled into the Australian city. Cushman said that retail rents in Hong Kong, which fell 6.8pc had been held back by a cooling luxury market in China and the 'Occupy Central" protest. Matt Winn. head of retail in the Americas for Cushman, added: "Positive economic news, combined with healthy retailer fundamentals, continued to filter through into the US retail market. The arrival of brands such as Microsoft, which recently opened its first flagship store in New York's Upper Fifth Avenue, further underlined the importance of these premier shopping destinations.