New Bond Street Overtakes Via Montenapoleone as World’s Priciest Shopping Destination

London’s renewed appeal boosts New Bond Street. The London street is positioned in 2025 as the most expensive street in the world to open a retail outlet, according to the latest edition of Cushman&Wakefield’s Main Streets Across the World report. New Bond Street has unseated Italy’s Via Montenapoleone, which topped the ranking in 2024.

On the British street, rents for commercial premises have risen by 22% in the last year, reaching $2,231 per square feet per year. Strong demand coupled with a shortage of premises is the combination of factors that have boosted rents on the street.

Behind New Bond Street, Milan’s Via Montenapoleone is in second place this year, at $2,179 per square feet per year, the same as last year. New York’s Fifth Avenue, which had historically occupied the first position practically every year, closed the year as the third most expensive street in the world, with $2,000 per feet meter, stagnating with respect to 2024.

In the world as a whole, rents for commercial premises increased by 4.2%

Tsim Sha Tsui in Hong Kong, the Champs Elysées in Paris, Ginza in Tokyo, Bahnhofstrasse in Zurich and Pitt Street Mall in Sydney are the most expensive streets in the world to open a retail outlet. In all of them, rents have risen compared to the previous year.

Globally, rents for retail premises on the world’s main streets have risen by 4.2%, according to the Cushman&Wakefield report, with rents rising on 58% of the streets surveyed.

The Americas drove the global trend in retail rents, with an increase of 7.9% as a result of the rise in Latin American high streets. In the United States, rents slowed sharply from 10.9% in 2024 to 2.5% in 2025. In Europe, on the other hand, rents have risen by 4% in the past year (stable compared to the previous year), while in Asia-Pacific the price of retail space has slowed slightly, from 2.8% in 2024 to 2.1% in 2025.

According to Cushman&Wakefield’s analysis, over the past year the evolution of the retail market has been impacted by geopolitical instability. Faced with international risks, retailers have opted to secure locations, which has triggered competition and increased rents.