People of Cushman & Wakefield Echinox
New York’s Fifth Avenue has maintained its position as the world’s most expensive retail street, with Milan’s Via Montenapoleone climbing to second in the global rankings, according to Cushman & Wakefield’s latest ‘Main Streets Across the World’ report.
The 33rd edition of the report reveals retail rents on Via Montenapoleone grew 20% over the past year to $1,766 USD/sq ft/ yr to displace Hong Kong’s Tsim Sha Tsui which dropped to third after more modest 4% rental growth to $1,493 USD/sq ft/ yr. Rents at Fifth Avenue held steady at $2,000 USD/sq ft/ yr.
