Beirut city centre has the fastest-growing retail rents in the world, says UK real estate consultant Healey & Baker. Average prices for commercial property in downtown Beirut rose by 150 per cent in the 12 months ending June 2001, the company says in a report issued in November. A square metre of retail space now costs $1,000 a year, making Beirut central district the 28th most expensive shopping area in the world - up from 37th position last year. Retail rents have been 'boosted by increased political optimism and sustained retailer demand', Healey & Baker says. Rents in Beirut are now comparable to prime retail pitches in Helsinki, Lisbon and Madrid.