Orchard Road is the world's 27th most expensive retail street: Colliers

ORCHARD Road has slipped two spots to become the 27th most expensive retail street in the world, according to Colliers International's latest survey on global retail rents, raking in rents of US$355.39 per square foot (psf) per year.

Asia featured prominently in the top 10 list, bagging three spots with Queen's Road Central and Canton Road in Hong Kong taking the second and third positions, fetching respective rents of US$2,086.73 psf and US$1,993.98 psf per year. Causeway Bay in Hong Kong came in sixth at US$1,114.47 psf per year.

Fifth Avenue in New York remained the world's most expensive retail street, at US$3,052 psf per year.