Retail rents in the UK have risen 6% in the last year propelled by increases in London.

Luxury locations such as New Bond Street, where values surged 15.6%, and Sloane Street attracted “phenomenal interest from” occupiers, according to new research from Cushman & Wakefield.

The study showed on average there are around 10 international brands competing for each store in the capital.

Hong Kong’s Causeway Bay remains the world’s costliest retail location for the second year running and broke through the $3,000 per sq ft barrier for the first time in the 25-year history of Cushman & Wakefield’s annual survey.

New York’s Fifth Avenue and the Avenue des Champs-Élysées in Paris, which saw nearly a 40% rental rise, hold on to second and third place respectively.

The research marks the first day of international property convention Mapic in Cannes, France.

The World’s 10 most expensive retail locations in each country 2013

Rank 2013Rank 2012CountryCityLocationUSS/SQ. FT/Year€/SQ.M/Year% Change in local measure
11Hong Kong (China)Hong KongCauseway Bay         3,017         24,98314.7%
22USANew York5th Avenue         2,500         20,7020.0%
33FranceParisAvenue des Champs-Elysees         1,601         13,25538.5%
46UKLondonNew Bond Street         1,047           8,66615.6%
54JapanTokyoGinza            984           8,1527.4%
68ItalyMilanVia Montenapoleone            906           7,5007.1%
77SwitzerlandZurichBahnhofstrasse            874           7,2362.3%
85AustraliaSydneyPitt Street Mall            850           7,0420.0%
99South KoreaSeoulMyeongdong            732           6,0636.4%
1011AustriaViennaKohlmarket            536           4,4408.8%

Scroll to see the full table or click on the link on the right.