Grafton Street now the fifth most expensive shopping spot in the world

DUBLIN’S Grafton Street has surged ahead of London and Tokyo as one of the most expensive shopping locations in the world.

It jumped two places to take fifth spot in the latest Cushman & Wakefield’s index which provides a global barometer of the strength and popularity of shopping streets in 48 countries.

New York’s Fifth Avenue is the world’s most expensive shopping street where retailers can expect to pay rents of €12,612 per square metre a year, an increase of 23% on 2007.