Sofia's Vitosha Named World's 52nd Most Expensive Shopping Street

The Vitosha boulevard has become less attractive due to the ongoing repair works taking place there. File photo

Bulgarian capital Sofia's luxurious Vitosha boulevard has been ranked 52nd among the world's most expensive shopping streets, according to letting agents Cushman & Wakefield's Main Streets Across the World report.

Compared to last year's list, Vitosha has dropped one place down. Bulgaria's most expensive shopping strip was ranked 40th in 2009.

The Vitosha boulevard has become less attractive due to the ongoing repair works taking place there, as well as the abundance of newly-built shopping malls in Sofia.

New York's Fifth Avenue headed the list for the tenth year running, with a 21.3 per cent increase in rents

Despite the fragile economic recovery and subdued consumer sentiment in many countries, global retail markets have rebounded strongly during the last year.Over four-fifths (81%) of the 63 countries surveyed for Main Streets Across the World 2011 recorded prime rents increasing or remaining static over the year to June.

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