GLOBAL MAIN STREET RANKING CHANGES
• In another tumultuous year, significant changes have occurred at the top of the rankings. The most notable being London’s New Bond Street rising two rankings to overtake both Milan’s Via Montenapoleone and New York’s Fifth Avenue as the world’s most expensive retail destination. This change is the result of two key drivers: 22% rental growth over the past year while rents in the other two locations remained flat; and stronger depreciation of the U.S. dollar against the British pound. • Rankings were more stable for the remainder of the top 10, with no location managing to overtake another. However, gaps between locations continue to adjust. Of note, rents in Vienna’s Kohlmarkt (10th place) have moved considerably closer to Myeondong in Seoul and are now just 8% apart from 24% a year ago. At the same time, Sydney’s Pitt Street Mall has pulled further away from Myeondong, increasing the rent gap from 17% to 22%. • In terms of the largest movers, both up and down the rankings, the most significant changes have been in those moving up the rankings. Oscar Freire Jardin in Brazil moved up seven places from 41st last year to 34th this year. Similarly, Fashion Street in Budapest is a new entry this year having overtaken Váci utca to be the city’s most expensive street. On a comparative basis, Fashion Street would have ranked 31st last year but came in at 26th this year. Movements down the rankings were minimal and limited to three cities: Grand Rue in Luxembourg City, Masaryk in Mexico City, and Jakarta’s prime retail district all dropped three places to 31st, 37th and 40th, respectively.
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CUSHMAN & WAKEFIELD
MAIN STREETS ACROSS THE WORLD 2025
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