The most expensive street in the world for shops is New Bond Street in London, where average rent reached $2,231 per square foot a year in the 2025 edition of Cushman & Wakefield’s Main Streets Across the World report, up 22 percent on the year. Our top 10 ranks streets by that official retail rent report, then adds the biggest documented home sale we found on a luxury street, a house at Mount Nicholson on Hong Kong’s Peak, as of October 2026. Residential street rankings built on per-square-meter averages vary too much between sources, so we do not rank homes that way.
| Rank | Street | City | Annual rent per sq ft |
|---|---|---|---|
| 1 | New Bond Street | London | $2,231 (2025 report) |
| 2 | Via Montenapoleone | Milan | $2,047 (2024 report) |
| 3 | Upper Fifth Avenue | New York | $2,000 (2024 report) |
| 4 | Tsim Sha Tsui | Hong Kong | $1,607 (2024 report) |
| 5 | Avenue des Champs-Elysees | Paris | $1,282 (2024 report) |
| 6 | Ginza | Tokyo | $1,186 (2024 report) |
| 7 | Bahnhofstrasse | Zurich | $981 (2024 report) |
| 8 | Pitt Street Mall | Sydney | $802 (2024 report) |
| 9 | Myeongdong | Seoul | $688 (2024 report) |
| 10 | Kohlmarkt | Vienna | $553 (2024 report) |
1. New Bond Street, London: $2,231 per sq ft a year
In the 2025 edition of the report, New Bond Street became the costliest retail location on earth for the first time, passing Milan and New York. Rents rose 22 percent in a year to $2,231 per square foot annually. It is the home of the flagship stores of the big jewelers and fashion houses.
How we valued it: the figure in the official 2025 report, an average rent per square foot per year.
2. Via Montenapoleone, Milan: $2,047
Milan’s luxury street topped the 2024 edition at $2,047, the first time a European street led the world. It sits in the Quadrilatero della Moda, where the top fashion houses compete for frontage.
How we valued it: the 2024 official report rent. The 2025 report keeps it in second place, but we could not open its rent figure.
3. Upper Fifth Avenue, New York: $2,000
The stretch of Fifth Avenue between 49th and 60th Streets recorded $2,000 per square foot in the 2024 report, and remained third in the 2025 order. It is the main street for flagship stores of the largest luxury brands in the United States.
How we valued it: rent from the 2024 edition of the report.
4. Tsim Sha Tsui, Hong Kong: $1,607
The Kowloon shopping district recorded $1,607 in 2024, and held fourth place in the 2025 ranking. Hong Kong’s other retail district, Causeway Bay, led the list in earlier years.
How we valued it: the report’s 2024 rent for this street.
5. Avenue des Champs-Elysees, Paris: $1,282
Paris’s best-known avenue recorded $1,282 per square foot in 2024 and stayed fifth in the 2025 ranking.
How we valued it: 2024 survey rent, order confirmed in 2025.
6. Ginza, Tokyo: $1,186
Tokyo’s premier shopping district recorded $1,186 in 2024 and stayed sixth in 2025.
How we valued it: the street’s 2024 prime rent.
7. Bahnhofstrasse, Zurich: $981
The Swiss financial capital’s main shopping street recorded $981 in 2024 and stayed seventh in 2025. It is lined with watch and jewelry stores.
How we valued it: survey rent for 2024; 2025 rank unchanged.
8. Pitt Street Mall, Sydney: $802
Sydney’s pedestrian mall recorded $802 in 2024 and held eighth place in 2025.
How we valued it: 2024 prime rent from the same yearly survey.
9. Myeongdong, Seoul: $688
Seoul’s cosmetics and fashion district recorded $688 in 2024 and held ninth place in 2025.
How we valued it: the 2024 survey figure.
10. Kohlmarkt, Vienna: $553
Vienna’s old-town luxury street recorded $553 in 2024 and closes the 2025 top 10 as well.
How we valued it: rent from the 2024 edition of the report.
The priciest home sale on a luxury street
For homes, the biggest recent sale we could document was a detached house at Mount Nicholson on Hong Kong’s Peak. It sold for HK$1.039 billion (about $133 million) in about December 2025, at HK$109,889 per square foot over 9,455 saleable square feet, including a 6,188 sq ft garden. Earlier, a Mount Nicholson apartment made HK$639.7 million in 2021, a record for an apartment in Asia at the time, at about HK$140,800 per square foot.
How we valued it: the price and area reported at the time of each sale, converted at about 7.8 HK$ per dollar.
Records set in 2025 and 2026
The 2025 report put London’s New Bond Street first, ahead of Milan and New York. On the residential side, the Mount Nicholson house sale of about December 2025 is the largest we documented.
What drives these prices
- Flagship demand. A handful of luxury groups compete for the same few addresses.
- Short supply. A street cannot be extended, so rents rise as brands crowd in.
- Tourist spending. The top streets live off visiting shoppers.
- Currency and sentiment. Rents can swing 20 percent in a year in either direction.
- Lease structure. Prime rents reflect new leases on the best units, not a street average.
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What is the most expensive street in the world?
For shopping, New Bond Street in London, at $2,231 per square foot a year in the 2025 report.
What was the top street before?
Via Montenapoleone in Milan led the 2024 edition at $2,047, ahead of Upper Fifth Avenue at $2,000.
Which is the most expensive street for homes?
No audited ranking exists, so we point to the biggest sale: a Mount Nicholson house on the Peak in Hong Kong sold for HK$1.039 billion in about December 2025.
Is Fifth Avenue still near the top?
Yes. Upper Fifth Avenue is third in the 2025 ranking.
How are shopping street rents measured?
As the prime annual rent per square foot for retail units, from a global property consultancy’s yearly survey.
Which Asian street is highest?
Tsim Sha Tsui in Hong Kong, fourth in the 2025 ranking.
How we put this list together
We ranked streets by the prime retail rents in an official annual property report, and added documented home sales, compiled in an internal valuation model. Rents are approximate and change each year.
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Last updated: October 2026.
