Real estate consultancy Cushman & Wakefield has revealed the most expensive streets in the world. This ranking was built based on the price per square meter for commercial properties on the busiest and most popular streets across the planet.

Unsurprisingly, it is 5th Avenue in New York that turns out to be the most expensive street in the world, with a single square meter costing $21,889 per year. While the price seems colossal, it remains 15% cheaper than before the pandemic began in 2020. The study reveals that by and large, the United States has shown the most resilience to falling rents in recent years.

5th Avenue, New York

The rental cost per square foot on New York's Fifth Avenue stands at $3,500, granting it the title of the world’s most expensive commercial rent. Photo: TripSavvy

The rental cost per square foot on New York's Fifth Avenue stands at $3,500, granting it the title of the world’s most expensive commercial rent. Fifth Avenue stretches for 6.2 miles and serves as the dividing line between the east and west sides of Manhattan. High-end brands like Gucci, Prada, Versace, Louis Vuitton, and Saks Fifth Avenue can all be found along the avenue.

Fifth Avenue is much more than a shopping haven, however, as it is also home to residential homes as well as historical buildings. Iconic landmarks along the avenue include the New York Public Library, Rockefeller Center, and the Empire State Building. The Avenue even hosts most of New York’s celebratory parades such as St. Patrick’s Day Parade.

Tsim Sha Tsui, Hong Kong

Tsim Sha Tsui, situated in the heart of Hong Kong, is a bustling urban district that offers a glimpse into the city's extravagant lifestyle. With an average price of $15,578 per square meter, it ranks among the most expensive streets globally.

Tsim Sha Tsui, situated in the heart of Hong Kong, is a bustling urban district that offers a glimpse into the city's extravagant lifestyle. Photo: Expedia

Tsim Sha Tsui is a shopper's paradise, housing some of the world's most exclusive designer boutiques, high-end jewelry stores, and luxury hotels. The area is renowned for its picturesque views of the Hong Kong skyline and Victoria Harbour, making it a prime location for both residents and tourists.

Via Monte Napoleone, Milan

Via Monte Napoleone in Milan, Italy, is synonymous with high fashion and exquisite craftsmanship. This upscale street boasts an average price of $15,108 per square meter, making it one of Europe's most expensive addresses.

Via Monte Napoleone in Milan, Italy, is synonymous with high fashion and exquisite craftsmanship. Photo: Welcome to Italia

Fashion enthusiasts flock to Via Monte Napoleone to peruse the latest collections from renowned designers like Prada, Gucci, and Versace. The street exudes elegance, with its historic buildings and chic boutiques creating an atmosphere of sophistication.

New Bond Street, London

New Bond Street, located in the heart of London's prestigious Mayfair district, is renowned as one of the world's most expensive streets. With an average price of $14,899 per square meter, this iconic street has long been a hub for luxury shopping and high-end real estate.

New Bond Street, located in the heart of London's prestigious Mayfair district, is renowned as one of the world's most expensive streets. Photo: Secret London

The street is famous for its exclusive boutiques and flagship stores of renowned fashion brands, such as Chanel, Louis Vuitton, and Tiffany & Co. It's also home to some of the world's most prestigious art galleries, including Sotheby's and Christie's, making it a cultural hotspot.

Champs Élysées, Paris

The Champs Élysées in Paris is renowned for its elegance and is often referred to as the "most beautiful avenue in the world." Photo: Hotels.com

The Champs Élysées in Paris is renowned for its elegance and is often referred to as the "most beautiful avenue in the world." At an average price of $11,496 per square meter, it's also one of the most expensive streets globally. Lined with iconic landmarks like the Arc de Triomphe and prestigious boutiques including Louis Vuitton and Cartier, the Champs Élysées exudes luxury and sophistication. It serves as a symbol of Parisian grandeur and opulence.

Apart from its high-end shopping options, the avenue boasts world-class theaters, restaurants, and cafes, making it a cultural and entertainment hub. Tourists and locals alike flock to the Champs Élysées to soak in its glamorous atmosphere.

Ginza, Tokyo

Ginza, located in Tokyo, Japan, is synonymous with luxury and sophistication. Photo: Wikipedia

Ginza, located in Tokyo, Japan, is synonymous with luxury and sophistication. With an average price of $10,340 per square meter, it ranks among the world's most expensive streets, drawing high-net-worth individuals and discerning shoppers.

Ginza is home to an array of high-end boutiques, including flagship stores for renowned brands like Chanel, Dior, and Apple. The district's modern architecture, neon-lit streets, and upscale department stores create a vibrant and cosmopolitan atmosphere.

Bahnhofstrasse, Zurich

Bahnhofstrasse in Zurich, Switzerland, is renowned as one of the most expensive streets in the world. It stretches for approximately 1.4 kilometers through the heart of Zurich's city center and is lined with luxury boutiques, high-end department stores, and upscale cafes. The name "Bahnhofstrasse" translates to "Train Station Street" in English, as it originally led from the city's main train station to Lake Zurich.

With an average price of $9,271 per square foot, Bahnhofstrasse's real estate is incredibly valuable. Photo: Wikipedia

With an average price of $9,271 per square foot, Bahnhofstrasse's real estate is incredibly valuable. The street's prestige attracts numerous international brands, making it a shopping destination for the world's elite. It is common to find stores of renowned luxury brands like Chanel, Louis Vuitton, and Rolex here.

Pitt Street Mall, Sydney

Pitt Street Mall is the centerpiece of Sydney's bustling Central Business District (CBD) and stands as one of Australia's premier shopping destinations. With an average price of $7,918 per square foot, it is among the world's most expensive streets.

Pitt Street Mall is the centerpiece of Sydney's bustling Central Business District (CBD) and stands as one of Australia's premier shopping destinations. Photo: Tripadvisor

This iconic shopping precinct stretches for about 200 meters and is a pedestrian-only zone, ensuring a vibrant and bustling atmosphere. It is flanked by an array of high-end boutiques, flagship stores of international luxury brands, and department stores such as David Jones and Myer.

Myeong-dong, Seoul

Myeong-dong is one of Seoul's most famous and expensive streets, renowned for its high-end shopping and vibrant atmosphere. Photo: Wikipedia

Myeong-dong is one of Seoul's most famous and expensive streets, renowned for its high-end shopping and vibrant atmosphere. Located in the heart of South Korea's capital city, this bustling district boasts an average price of $6,203 per square foot, making it one of the priciest areas in the world.

Nanjing Road, Shanghai

Nanjing Road is a historic and iconic street in Shanghai, China, known for its luxurious shopping and rich cultural heritage. Photo: China Discovery

Nanjing Road is a historic and iconic street in Shanghai, China, known for its luxurious shopping and rich cultural heritage. This prestigious area commands an average price of $5,426 per square foot, placing it among the world's most expensive streets.

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