Retail rents for commercial property in London are the sixth highest in the world, according to the latest figures.
CB Richard Ellis's (CBRE's) Global Retail MarketView has revealed that annual rental values in the English capital have reached $677 (£412) per sq ft, meaning the city has kept the same position it held in last year's study.
Overall, retailer demand was found to be down in most European markets, but there is evidence that landlords are securing discounts or favourable lease terms in exchange for extensions.
Nick Axford, head of research and consulting at CBRE, said: "Landlords are keen to avoid vacancies, and in some circumstances this makes them more willing to compromise with tenants who are in a position to leave."
A study published by Jones Lang LaSalle last week named London the top European location in terms of commercial property rents and consumer spend.