The rates of properties on rent increase by 5% worldwide, reveals a document by the real estate services company Cushman & Wakefield.

The region which made the utmost gain was Asia-Pacific, which increased by 12%, also the rental rates increased by 7% in the US, while in Europe, the rise was negligible marked at 1.5%. As per John Strachan, global head of retail at Cushman, “Retailers continue to expand in the Middle East and Japan, but China, India and to some extent South America remain the focus of attention for many of the world’s leading retailers”.

A flood of guests to Hong Kong from mainland China resulted in accelerating the economy, with increase in the demand and expenditure. On the other hand, a fall in the value of dollar resulted in strengthening the tourism sector and sales of luxurious goods, which further led to increase in the rental rates by 11%.

Out of 278shopping areas in Beijing, Wangfujing witnessed the outracing sales, surpassing the mark of 110%. The rental rates at the New York’s Fifth Avenue jumped to the mark of 21.6%, resulting in attaining the topmost position in this segment after a period of 10 years.