Sydney's Pitt Street Mall is the seventh most expensive retail location in the world, in terms of rent per square metre, according to a recent global report.
The Cushman & Wakefield Main Streets Across the World 2017 report revealed the iconic shopping district to be one of the world's most expensive, with rental costs reaching $14,616 a square metre.
The mall came third in the APAC region top 10 list, behind Hong Kong's Causeway Bay and Tokyo's Ginza district.
According to the report, retail activity in the Australian market was limited by low levels of availability.
However, the growing trend of domestic retailers opting for suburban locations has freed up space in major CBD locations for international brands.
Fast fashion, cosmetics, luxury and athleticwear were highlighted as the best performing retail sectors in these major CBD locations.
Brisbane's Queen Street Mall also entered the APAC top 10 list, coming in at number nine with rent costing $5,862 per square metre.