London’s West End remains a bubble in global economic downturn.

As the dust finally begins to settle on what has been the UK’s toughest recession since World War Two, facts and figures show that the epi-center of London chic survived and possibly even prospered while High Street shopping not only in Britain but around the World took a major dive.

According to a recent comprehensive survey of the world’s top shopping areas, London’s most expensive shopping streets have not only withstood the economic downturn better than almost all other rivals, but have emerged form it in very good shape.

Some of the highly exclusive retail stores situated in New Bond Street were happily absorbing rental increase of around 7 per cent in the year ending June 2008, one of the worst years in shopping history. At the same time sharp decreases in rental income were reported on many of the other famous centres of shopping for the privileged, with no less than New York’s Fifth Avenue featuring pretty high up on the list.

Property consultants speak in hallowed tones of the continued attraction of the West End of London for local and international shoppers. An attraction that made sure that rents remained resilient despite weakness in the rest of the UK.

In general, UK’s high street property income has witnessed a decline of 2.4 per cent during the year ending June. 2009

Despite the downturn in the economy and the retail sector in general, London’s West End continues to perform well and rental outlets remain almost impossible to find in such famous shopping institutions as Oxford Street, Regent Street and New Bond Street.

During the last six months, several internationally recognized retailers have opened their doors in Central London, among them the Sting, Pull and Bear, Missoni, Anthropologie, Kronometry and True Religion.

Despite London’s rises to supremacy as a key shopping centre for the rich and famous, Fifth Avenue remains the world’s most expensive street, where retailers can expect to pay an annual £1,000 per sq ft per year. Paris’s Avenue des Champs-Elysées remains Europe’s most expensive retail address, while Hong Kong’s Causeway Bay the most expensive in the Asia Pacific region.

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Tags: Anthropologie, Avenue des Champs-Elys, British Economy, British Pound, Causeway Bay, Credit Crunch, Economic Downturn, Economics, Economy, Fifth Avenue, Financial News, Global Credit Crisis, High Street shopping, Kronometry, Missoni, Money, New Bond Street, Oxford Street, Pull and Bear, Recession, Regent Street, Retail, Sting, True Religion, UK Banks, UK Economy, UK Recession, West End