New York’s Fifth Avenue Retains its Top Ranking as the World’s Most Expensive Retail Destination
New York’s Fifth Avenue retains its top ranking as the world’s most expensive retail destination, despite recording flat rental growth year-over-year (YOY).
- New York’s Fifth Avenue retains its top ranking as the world’s most expensive retail destination, despite recording flat rental growth year-over-year (YOY).
- Milan’s Via Montenapoleone jumped a spot into second, displacing Hong Kong’s Tsim Sha Tsui, which placed third in 2023.
- New Bond Street in London and the Avenues des Champs-Élysées in Paris retained fourth and fifth positions, respectively.
- Rents across global prime retail destinations continued their ongoing recovery, increasing on average 4.8% in local currency terms over the past year.