New Bond Street has become the most expensive shopping street in the world due to rising rental rates.
London’s New Bond Street topped the rankings of the world’s most expensive shopping streets in 2025, overtaking Milan’s Via Montenapoleone due to a significant increase in rental rates.
According to the annual report by Cushman & Wakefield, the annual rental cost on New Bond Street rose by 22% and amounts to 20,482 euros per square meter, pushing the street to first place in the global ranking. Meanwhile, rates on Via Montenapoleone in Milan remained unchanged at 20,000 euros per square meter, moving it to the second position. Fifth Avenue in New York ranks third with rental rates of 18,360 euros per square meter.
The ranking continues with Tsim Sha Tsui in Hong Kong in fourth place with a rate of 13,900 euros/sq. m, after a 6% decrease, as well as the Champs-Élysées in Paris, which retained rental costs of 12,520 euros per square meter. Ginza in Tokyo increased by 10%, reaching 11,540 euros per square meter, securing sixth place.
Cushman & Wakefield has been compiling the “Main Streets Across the World” ranking for 35 years, including 141 cities in 2025. An increase in rental values was recorded on 58% of the ranked streets. The largest increase was observed on Oscar Freire Street in São Paulo (+65%) and Fashion Street in Budapest (+33%). The most significant decrease was recorded on Oak Street in Chicago, which dropped by 14%.
| Position | Street | City | Rental Cost, euros/sq. m | Change % |
|---|---|---|---|---|
| 1 | New Bond Street | London | 20,482 | +22% |
| 2 | Via Montenapoleone | Milan | 20,000 | 0% |
| 3 | Fifth Avenue | New York | 18,360 | 0% |
| 4 | Tsim Sha Tsui | Hong Kong | 13,900 | -6% |
| 5 | Champs-Élysées | Paris | 12,520 | 0% |
| 6 | Ginza | Tokyo | 11,540 | +10% |
| 7 | Bahnhofstrasse | Zurich | 9,640 | 0% |
| 8 | Pitt Street | Sydney | 7,300 | +4% |
| 9 | Myeongdong | Seoul | 6,000 | +1% |
| 10 | Kohlmarkt | Vienna | 5,500 | +2% |
