New York’s upscale strip is one of only two top 10 shopping streets where rental prices have increased since before the Covid pandemic.
The peg of the Hong Kong dollar to the US dollar helped Hong Kong rank second in 2022. Here, Tsim Sha Tsui, at EUR 15,134/m² per year, replaced Causeway Bay as the most expensive shopping street in the country. ‘Asia. However, rents are down 41 percent since pre-Covid.
In third place is Via Montenapoleone in Milan with 14,547 euros/sqm per year. Rents here have increased by 9% since 2020. This makes it the most expensive shopping street in Europe, ahead of New Bond Street in London and the Avenue des Champs-Élysées in Paris.
In the German-speaking markets, Zurich’s Bahnhofstrasse is at the top with 8,927 euros/m2 (down 3 percent compared to the pre-Covid period). Followed by the Kohlmarkt in Vienna with 4,888 EUR/m² per year (up 4%) and the Kaufinger/Neuhauser Strasse in Munich (3,724 EUR/m² per year, down 12%).
Cushman & Wakefield’s Main Streets Across the World report, first published in 1988, compares the major shopping streets of 92 cities around the world, using data from Cushman & Wakefield.
