New Bond Street in London became the world's most expensive shopping street in 2025, pushing last year's leader, Milan's Via Montenapoleone, to second place, according to the annual report by Cushman & Wakefield.
The annual rental cost for shops on New Bond Street has increased by 22% to €20,482 per square meter, while prices on Milan's street have remained the same at €20,000 per square meter.
Fifth Avenue in New York has dropped from second to third place, where rental rates for retail spaces have also not changed (€18,360 per square meter).
The Hong Kong promenade Tsim Sha Tsui remains in fourth place (-6%, to €13,900 per square meter), the Champs-Élysées in Paris is in fifth (unchanged, €12,520 per square meter), Ginza in Tokyo is in sixth (+10%, to €11,540 per square meter), Bahnhofstrasse in Zurich is in seventh (unchanged, €9,640 per square meter), Pitt Street in Sydney is in eighth (+4%, to €7,300 per square meter), Myeongdong in Seoul is in ninth (+1%, to €6,000 per square meter), and Vienna's Kohlmarkt is in tenth (+2%, to €5,500 per square meter).
Cushman & Wakefield has been compiling the annual ranking of "The World's Most Expensive Shopping Streets" for 35 years. In 2025, it included 141 cities.
Among the streets in the ranking, 58% recorded an increase in rental costs. In North and South America, rents rose by 8%, in Europe by 4%, and in the Asia-Pacific region by 2%.
The most significant increase in rental costs was recorded on Oscar Freire Street in São Paulo, Brazil (+65%) and on Fashion Street (Deák Ferenc Street) in Budapest (+33%), while the most substantial decrease was on Oak Street in Chicago (-14%).
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