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Tverskaya Street, Moscow
Tverskaya Street, Moscow
Hot spot: Manege Square to the Mayakovskya underground station.
Rent: $500 per square foot.
State of the market: Department store rivals GUM and TSUM have long dominated luxury shopping in Moscow, but Tverskaya Street has become the high-end corridor of choice, with names like Escada and Italian shoemaker Vicini competing for the rubles of Moscow's exploding leisure class. Rents are up 10% to 15%; Muscovites also have a new option, the lobby of the Ritz-Carlton hotel, where tenants like jeweler Carrera y Carrera are said to pay $650 per square foot, the city's highest rate.

NEXT: Chuo Street, Tokyo
Last updated August 26 2008: 6:47 PM ET
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