Monte Napoleone in Milan Named World's Most Expensive Shopping Street

milan, italy - Monte Napoleone in Milan has surpassed Fifth Avenue in New York City as the world's most expensive shopping street, with a rental price of 20,000 euros per square meter.

When visiting New York City, a stroll down Fifth Avenue has always been a must for luxury shopping enthusiasts. This iconic street is lined with famous brands such as Jimmy Choo, Louis Vuitton, Cartier, and more. However, it has now been dethroned as the world's most expensive shopping street.

According to Cushman & Wakefield, one of the largest real estate firms globally, Fifth Avenue ranks second this year with a rental price of 19,537 euros per square meter. The new top spot belongs to Via Monte Napoleone in Milan, Italy, with a rental price of 20,000 euros per square meter.

Despite its small size of only 350 meters, Via Monte Napoleone is home to luxury brands like Fendi, Loewe, and Prada. The exclusivity of the street adds to its allure, with limited space available for brands to set up shops.

The Monte Napoleone District reported that 11 million visitors explored the area until November this year. The average shopper spent 2,500 euros per purchase between August and November, marking the highest average spending globally. It's no wonder that shoppers from around the world flock to this Milanese street, often arriving in luxury cars like Ferrari, Maserati, or Porsche.