Milan's Via MonteNapoleone Tops Fifth Avenue as World's Priciest Shopping Street

The luxury retail hub in Milan now commands the highest rent globally, reflecting its growing appeal to high-end brands and affluent shoppers.

Via MonteNapoleone in Milan has overtaken New York's Fifth Avenue as the most expensive retail destination, with rents reaching €20,000 per square meter ($2,047 per square foot).
The street's exclusive reputation stems from its compact size, proximity to cultural landmarks, and limited retail space, which enhances its allure for luxury brands.
Top brands on Via MonteNapoleone, such as Fendi and Tiffany & Co., report annual sales between €50 million and €100 million, helping offset high rental costs.
The area attracted 11 million visitors through November 2024, with an average shopper spending €2,500 per purchase, the highest globally according to Global Blue.
Fifth Avenue's representatives acknowledged Milan's achievement but expressed confidence in reclaiming the top spot with ongoing investments and record sales this year.