Milan is home to the most expensive shopping street in the world

According to analysis from real-estate services firm Cushman & Wakefield, cited by the FT, Milan’s Via Monte Napoleone has overtaken NYC’s Upper 5th Avenue (where rents dropped 4% year over year) as the most expensive shopping street in the world, making it the first European city to top the list in 34 years. 

The report found that landlords with units on the buzzy strip can charge luxury retailers — including Chanel and Gucci, which have both opened new locations on the street in the past year — some €20,000 ($21,000) per square meter annually in 2024. Admittedly, the Via Monte Napoleone may pose a size advantage for the rankings: at just 1,150 feet long, it’s roughly one-fifth the size of Paris’ Avenue des Champs-Élysées.

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