The most expensive shopping street in the world is Italian, where is Belgium located?

Synonymous with fashion and luxury, Via Montenapoleone has gradually established itself in the consultant’s ranking in recent years, reaching second place in 2023. Rents there have increased by 11% over one year to reach 20,000 euros/m²/ year, while those of Upper 5th Avenue (19,537 euros/m²/year) remained stable for the second consecutive year. On the third step of the podium, we find New Bond Street in London (17,210 euros/m²/year), ahead of Tsim Sha Tsui in Hong Kong, despite rent growth of 7% in the latter region. The Avenue des Champs-Élysées in Paris, with an increase in rents of 10% over one year, retains fifth position.

One in three second home owners are for sale

“These iconic locations around the world are distinguished by fierce competition for available space and extremely tight supply, even in difficult market conditions”comments Robert Travers, head of Europe Middle East & Africa (EMEA) Retail at Cushman&Wakefield, quoted in a press release. “Brands, whether luxury or mass market, are increasing their efforts to physically establish themselves in these strategic locations as they seek to provide an exceptional customer experience and presentation of their products. This keeps vacancy rates very high. low and high rents, which retailers are willing to pay to secure and maintain their space.”

Belgium comes in 28th place

In Belgium, the Antwerp Meir maintains its 28th position in the world ranking of commercial destinations. Rents on this artery recorded moderate growth of 3%, reaching 1,700 euros/m²/year. Rue Neuve in Brussels, although only included in the European ranking, displays a similar evolution, with a prime rent of 1,650 euros/m²/year. Furthermore, Veldstraat in Ghent saw its rents increase from 1,450 to 1,500 euros/m²/year, while regional destinations such as Steenstraat in Bruges, rue de l’Ange in Namur and Vinâve d’Île in Liège show stability, with rents unchanged this year.