Top 10 highest-rent shopping strips in the world by Phil Wahba @FortuneMagazine January 21, 2015, 1:57 PM EST E-mail Tweet Facebook Google Plus Linkedin Share icons “The rent is too damn high,” goes the motto of a New York City political party bemoaning the cost of housing there. Retailers could say the same about the Big Apple, which according to commercial real estate company Cushman & Wakefield, is home to four of the 10 most expensive places in the world, and other hot shopping spots in major “gateway” cities, like Paris, London, Miami and Hong Kong. In the case of New York, the surge in rent is the direct result of a 50% increase in the number of visitors to New York (expected to hit 56 million this year) since 2002, and the fact that retailers, luxury and otherwise, see having an address on one of the world’s hottest shopping strips as essential for its brand equity. Why else would a retailer like teen clothier Forever 21 open a 90,000-square-foot—that’s about two-thirds the size of an average Macy’s M department store—in the heart of Times Square, where retailers paid on average $2,300 per square foot in 2014: that’s exorbitant for a retailer selling $9 jeans. That compares to about $30 a square-foot for the U.S. a whole. Other retailers have made it clear that so-called gateway cities will be their prime focus: Coach COH said last year it would close 20% of its North American stores to focus on those location in top cities. The same holds abroad: Abercrombie & Fitch ANF chose to open mammoth stores to serve as the brand’s flagship when it entered Europe. And Tiffany & Co TIF chose the Champs-Elysées, which is home to few jewelers, for its Paris flagship. Last week, at the National Retail Federation’s annual convention, David Zoba, head of real estate at Gap Inc GPS , told Bill Taubman, whose family runs a namesake mall development company, that retail rents were rising too quickly and would break some retailers. Who knows if he’ll get relief at the nation’s shopping malls. But he shouldn’t expect any relief in the world’s most coveted retail strips, particularly in city centers which are magnets for the biggest names in luxury and retail. “You’re going to see cities grow. It’s going to expand—I expect rents to rise. It’s simple supply and demand—there’s endless demand and not enough supply,” Gene Spiegelman, a vice chairman at Cushman & Wakefield, told Fortune. Rents in places like New York, Hong Kong, Paris, London, Shanghai and Tokyo should keep rising, he added Here is a look at the 10 most expensive shopping strips for retailers, as measure by sales per square foot per study. Here is the full study, with details per region.