Khan Market is the most expensive retail market in the country even though its ranking worldwide has dropped two places to 28. Monthly rentals at Khan Market stood at Rs 1,250 per sq ft as of June, 2013, up by just 2 per cent from the year-ago period, according to global property consultant Cushman and Wakefield’s (C&W) report ‘Main Streets Across the World 2013’. ‘India (Khan Market) however, dropped in the global ranking from 26th to 28th position due to the weakening of the Indian rupee against US dollar and largely stable rentals with limited increment in rental values in established retailing sectors,’ the report said. Hong Kong’s Causeway Bay has emerged as the world’s most expensive retail location, followed by New York’s 5th Avenue, as per the report that ranks the most expensive locations in the top 334 shopping destinations across 64 countries.