Have you ever wondered where the most expensive street in Canada might be? Here’s a hint: our website is named after part of the answer!

The Bloor-Yorkville area is home to some of the finest boutiques in all of Canada. It’s also recognized as one of the top 10 shopping destinations worldwide. International fashion labels such as Louis Vuitton, Prada and Hermes are a few of the chique shops you’ll find in this bustling area. And of course Canadian brands like Harry Rosen and Holt Renfrew are also available to those who appreciate the finer things in life!

It took more than brand names to help the Bloor St strip from following the downward trend that other high-end shopping destinations experienced. Canadian Banks and its stringent lending polices helped to lessen the effects of the world wide recession. Although we weren’t completely immune from it, we did come out much better than other countries. Bloor St remained unchanged from its 21st position on the list of most expensive locations world wide.

Last week Cushman & Wakefield  released a study that looked at the ”Global Downturns” effects on the most expensive streets world wide.  Business reporter Tony Wong did a great piece sumarizing it’s findings in The Toronto Star.  You can read it below:

Bloor St. remains expensive place for retailers

Sep 22, 2009 12:39 PM

Tony Wong

Business reporter

Toronto’s Bloor St. remains the most expensive street in Canada for retailers, according to a study released today by Cushman & Wakefield.

It cost an average of $300 per square foot to set up shop on Toronto’s “mink mile” where some of the most prestigious global brands such as Hermes and Prada have outlets.

In second place was Vancouver’s Robson St., where it cost $210 per square foot for retailers. Montreal’s Saint-Catherine W was in third place at $110 per square foot.

Globally, Toronto placed 21st in the world as the most expensive place for retailers, unchanged from last year.

More than half of the world’s top shopping streets were hit hard by the global downturn with 54 per cent reporting that rents had fallen.

Toronto bucked the trend with rents unchanged over the last year.

“The last 12 months has been one of the most difficult periods ever for the retail sector,” said John Strachan, global head of retail for Cushman.

New York’s Fifth Avenue remains the most expensive place in the world at $1,700 USD per square foot, but that is down 8 per cent from last year.

Hong Kong’s Causeway Bay was the second most expensive place globally at $1,525 per square foot, followed by Paris’ Avenue des Champs Elysees at $1,009.

The biggest drop in rents worldwide was in Mumbai, falling 63.5 per cent on Colaba Causeway, the city’s most prestigious street.

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