New Bond Street Claims Title as World’s Most Expensive Retail Hub

London’s New Bond Street has officially been named the world’s most expensive retail destination for the first time, reflecting a resurgence in investor confidence within the high-end retail sector. Rents in this prestigious area have increased by an impressive 22 percent over the past year, allowing it to surpass notable competitors such as Milan’s Via Montenapoleone and New York’s renowned Fifth Avenue.

According to Duncan Gillard, head of central London Retail at Cushman & Wakefield, the surge in New Bond Street’s status can be attributed to “strong demand, limited supply, and continued investment in the public realm.” He specifically highlighted the prime jewellery section situated between Clifford Street and Burlington Gardens as one of the most fiercely contested locations in the global retail landscape.

Investor confidence is steadily returning to London, particularly in the retail sector, as interest rates decline and regulatory barriers begin to ease. A report by CBRE indicates that this renewed optimism is driving a resurgence in both retail and office investments.

“It does feel like London’s back,” remarked Richard Smart, managing director of London markets at CBRE, in an interview with City AM earlier this week. He noted a significant increase in investor appetite this year, primarily focused on sectors that were traditionally dominant, such as retail and office spaces.

Europe Leads Global Retail Market

Cushman & Wakefield’s analysis reveals that Europe has emerged as a standout performer in the global retail market this year. Notably, rents on Budapest’s Fashion Street have spiked by 33 percent, while both Milan and Paris have maintained their prestigious positions on the global stage.

For the first time, three of the world’s top ten most expensive streets are located in Europe. New Bond Street takes the top spot, followed by Paris’ Champs Élysées in fifth place and Zurich’s Pitt Street Mall in seventh.

Robert Travers, head of EMEA Retail at Cushman & Wakefield, emphasized the lasting allure of these premier shopping streets. “The enduring appeal of the world’s premier main streets lies in their unique blend of heritage, visibility and cultural cachet,” he said. “These iconic corridors are more than just retail destinations; they are global stages for brand storytelling, architectural expression, and consumer engagement.”

The recognition of New Bond Street as the most expensive retail location marks a significant milestone for London, highlighting its resilience and drawing attention to the evolving dynamics of the global retail market. With renewed investment and a vibrant shopping environment, the future looks promising for both retailers and investors in this iconic destination.