Milan's via Montenapoleone was named
the world's most expensive retail destination in the 2024 Main
Streets Across the World report released on Wednesday by real
estate group Cushman & Wakefield.
It said via Montenapoleone had overtaken New York City's Upper
Fifth Avenue to become the first European street at the top in
the report's 34-year history.
"This reflects robust rental growth on the Italian street,
exceeding 30% in the last two years, further bolstered this year
by the euro's appreciation against the U.S. dollar," it said.
The report monitors 138 urban retail locations around the world
on the basis of the value of prime rents.
It said via Montenapoleone had prime rents of 20,000 euros per
square metre per year, compared to 19,537 euros for Upper Fifth
Avenue.
ALL RIGHTS RESERVED © Copyright ANSA
