London’s New Bond Street has been named the world’s most expensive retail destination for the first time, Cushman & Wakefield 35th edition of Main Streets Across The World revealed. Rents have jumped 22 percent in the past year, overtaking Milan’s Via Montenapoleone (No. 1 last year) and New York’s Upper Fifth Avenue (No. 2 last year)
Half of the top 10 list of the world’s most expensive retail destinations are in Europe this year, with rents reaching €20,482 per square meter ($190,695 per square foot) year on London’s New Bond Street (See table 1, below).
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London led the resurgence in rents in
