Based on commercial real estate agency Cushman & Wakefield’s annual report called ‘Main Streets Across The World’, we bring you the 10 most expensive shopping streets in the world (based on their prime rental value). This annual report has combined insights on retail trends along with a unique global proprietary data set of 448 high-street retail rents. This is how the 2019 edition of ‘Main Streets Across the World’ turned out; the prices mentioned against each street are in USD per square foot a year:
Swipe Your Credit Cards At The Most Expensive Shopping Streets In The World
1. Causeway Bay (Main Street Shops), Hong Kong, China—$2,745
The most expensive shopping street in the world according to this report by Cushman & Wakefield is Causeway Bay in Hong Kong, China. Also called Tung Lo Wan by locals, Causeway Bay is one of Hong Kong’s prime shopping destinations. It is located on the north shore of Hong Kong Island and is jam-packed with restaurants and shops. The most famous shopping hotspots at Causeway Bay include Times Square, the World Trade Centre, Lee Gardens, and the 13-storey Japanese-style department store Sogō. Known as one of the most crowded and central areas in Hong Kong, Causeway Bay features luxury fashion retailers like Fendi, Gucci, Hermès, Calvin Klein, BVLGARI, and Dior.
2. Upper 5th Avenue (49th-60th Street), New York, US—$2,250
One of the most famous streets in the world, Upper 5th Avenue is a part of 5th Avenue that runs through Midtown Manhattan between 49th and 60th Street. This 10 km-long stretch is one of the most expensive shopping streets in the world and the main artery of New York City’s shopping scene. You can find flagship stores of high street favourites like brands such as Victoria’s Secret, H&M, Zara, and Uniqlo, luxury labels such as Hermès, Gucci, Tiffany & Co., and Prada along with luxury department stores like Saks. The shopping street is just a short stroll away from the iconic Times Square and Central Park and is also home to the 24-hour flagship Apple Store.
3. Bond Street, London, UK—$1,714
The home of luxury shopping in London, Bond Street is the most expensive shopping street in Europe and the third most expensive in the world. Set in the heart of historic Mayfair, in London’s popular West End, this retail street has been at the heart of London’s luxe scene since the 18th century. Even today, this luxury shopping street is revered throughout the world for its incredible wealth of elegant stores, luxury goods, fine jewels, art and antiques, and designer fashion. You’ll find the likes of Cartier, Hermès, Chanel, Dior, Ralph Lauren, Asprey, BVLGARI, Burberry, Dolce & Gabbana, Jimmy Choo, Louis Vuitton, Mulberry, and Tiffany & Co among others.
4. Avenue des Champs Elysées, Paris, France—$1,478
Often described as the most beautiful avenue in Paris, Avenue des Champs-Élysées is a shopper’s paradise. The avenue is in the 8th arrondissement of Paris and is visited each day by nearly 300,000 people, who come either to admire its majestic monuments or enjoy a (really expensive) shopping spree. One of the most expensive shopping streets in the world, Champs Elysees offers an opportunity to browse products from many renowned French design houses such as Chanel and Louis Vuitton. This luxury shopping street is also home to legendary perfume maker Guerlain, high-end American jewellery brand Tiffany & Co, the very popular French department store Monoprix and high street brands like Zara.
5. Via Montenapoleone, Milan, Italy—$1,447
Known as Milan’s most exclusive shopping street, Via Montenapoleone is a true mirror of Milan’s luxury fashion. This upscale shopping street gave its name to the entire district (known as Montenapoleone) and is known for its plethora of international fashion houses and exceptional Italian design. The city’s most famous shopping street truly reflects its reputation as the ‘fashion capital’ of the world. Via Montenapoleone welcomes its visitors to its refined boutiques and the flagship stores of the world’s leading brands, including Italian mainstays such as Gucci, Versace, and Valentino who are constantly competing for the most beautiful window displays.
6. Ginza, Tokyo, Japan—$1,251
Tokyo’s most popular shopping district, Ginza is a district of Chūō. Known as the most expensive area in Japan’s capital city, Ginza is also Tokyo’s dining and entertainment district. This massive area has epitomised Japan’s pinnacle of shopping opulence since the 1870s, typified by its grand, long-established department stores. Today, Ginza hosts numerous high-street retailers such as Uniqlo, H&M, Zara, GU, and GAP, alongside luxury stores such as Chanel, Louis Vuitton, Gucci, BVLGARI, and even a state-of-the-art immense Shiseido headquarters. The street is filled with boutiques, art galleries, restaurants, nightclubs, and cafes that attract thousands of tourists from other parts of Japan and the world. Ginza’s most prominent shopping street is the 1 km-long stretch of Chuo-dori (Central Avenue) which becomes a large pedestrianised zone every weekend between 12 PM and 5 PM (or until 6 PM from April to September).
7. Pitt Street Mall, Sydney, Australia—$1,076
Situated in the heart of the Sydney Central Business District (CBD), Pitt Street Mall is Australia’s busiest and most cosmopolitan shopping precinct. It is the pedestrianised section of Pitt Street and runs approximately 200 metres between Market Street and King Street. Listed as seventh on the list of the most expensive shopping streets in the world, Pitt Street Mall accommodates over 600 stores, including retail centres Myer, David Jones, Glasshouse, Sydney Arcade, Westfield Sydney, Mid City Shopping Centre, and The Strand Arcade. Pitt Street Mall is considered Australia’s busiest retail strip and is just a short stroll to Darling Harbour, Hyde Park, and vibrant Chinatown.
8. Bahnhofstrasse, Zurich, Switzerland—$866
Considered one of the most beautiful shopping streets in Europe, Bahnhofstrasse is Zürich’s main street downtown. It is one of the world’s most expensive and exclusive shopping avenues where you will find luxury brands like Giorgio Armani and Louis Vuitton, as well as department stores, perfumeries, watch shops, and some of the best Swiss delicacies. This historic boulevard forms the heart of the city of Zurich and combines elegance, tradition, and quality on one street. It’s very popular among locals as well as tourists. In summer, you can stroll along lake Zurich or enjoy mulled wine or hot chocolate at every corner in winter.
9. Myeongdong, Seoul, South Korea—$862
One of Seoul’s busiest areas, Myeong-dong is a neighbourhood (dong) in Jung-gu, Seoul. Along with being one of the most expensive shopping streets in the world, Myeong-dong is Seoul’s beauty product shopping mecca and one of Seoul’s major tourist districts. It is also a hub of commerce, banking, and culture attracting one-to-two million shoppers every day. The market hosts a mixture of street stalls, department stores, shopping malls (such as Lotte Department Store, Lotte Young Plaza, and Noon Square Shopping Mall), and independent shops that sell everything from high fashion to casual attire. It’s mostly known for its stretch of stores of Korean cosmetics, with popular ones like Etude House working as a museum of sorts. There will be multiple outlets of popular brands like Nature Republic, while Olive Young combines multiple products under one roof, cutting short some walking time.
10. Kohlmarkt, Vienna, Austria—$513
Coming in tenth, Kohlmarkt is a shopping street in Vienna’s 1st district, Innere Stadt. The Kohlmarkt, along with Graben and Kärntnerstraße, forms the Golden U, the most prestigious shopping zone in downtown Vienna. Stretching from Michaelerplatz to Graben, this shopping street is considered Vienna’s luxury mile due to it being home to traditional Viennese jewellers like Wagner, Bucherer, and Schellin, as well as international luxury brands such as Dolce & Gabbana, Cartier, and Tiffany & Co. Originally known as Coal Market, the Kohlmarkt, near Hofburg, the former centre of the Habsburg Empire, is one of the oldest streets in the city.
Which Of These Shopping Streets Have You Been To?
While travelling, shopping is one of the best ways to explore the culture and lifestyle of your destination. These stretches of luxury brand-filled streets aren’t for the faint-hearted, but these luxurious shopping streets are worth a look—even their window displays are stunning. Consider them museums and splurge if you can own a piece of luxury that you can hand down to generations. If you have already explored these expensive shopping streets, let us know your experience in the comments below.
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