Milan's Via Monte Napoleone Becomes World's Most Expensive Shopping Street

For the first time in over 30 years, a European street surpasses New York's Fifth Avenue in retail rental costs.

Rents on Milan's Via Monte Napoleone rose 11% in the past year to $2,047 per square foot, surpassing New York's Fifth Avenue, which remained steady at $2,000 per square foot.
The Cushman & Wakefield report marks the first time a European shopping street has topped the global rankings in 34 years.
Luxury brands like Chanel and Gucci have expanded their presence on Via Monte Napoleone, reflecting high demand for limited retail space.
Milan's appeal has grown due to tax incentives, luxury tourism, and high-net-worth individuals relocating to the city.
London's New Bond Street climbed to third place globally, overtaking Hong Kong's Tsim Sha Tsui, with rents increasing by 13% year-over-year.