London’s New Bond Street named world’s most expensive retail destination

New Bond Street in London has been officially crowned the world’s most expensive retail destination for the first time, according to the latest research.

The luxury shopping street surpassed both Milan’s Via Montenapoleone and New York’s Upper Fifth Avenue to claim the top spot in the 2025 "Main Streets Across the World" report published by global real estate consultancy Cushman & Wakefield.

Key Details from the Report

• Global Ranking: New Bond Street rose from third place in the previous year to secure the number one position.

• Rental Increase: The street saw a significant 22% surge in rental rates over the past year.

• Cost: This increase pushed the rent to a staggering US$2,231 per square foot per year (approximately €20,482 per square meter per year), making it the priciest location globally for luxury brands to secure a physical storefront.

• Factors: The report attributes the street’s ascension to surging demand from luxury brands, sharply declining vacancy rates, and the strong recovery of international tourism in Europe.

Top 3 Most Expensive Retail Streets (2025 Ranking):

1. New Bond Street, London, UK

2. Via Montenapoleone, Milan, Italy

3. Upper Fifth Avenue, New York, USA

This development highlights London’s continued status as a global hub for luxury retail and a magnet for high-spending international tourists.