London is an expensive place. Sometimes it feels like just stepping outside in this city comes with an obligatory 20 quid charge, but it turns out that it\u2019s even pricey for people who are ready to splash the cash \u2013 the world\u2019s most expensive luxury shopping street is right here in the capital.<\/p>\n
This is the 35th year that real estate firm Cushman & Wakefield has produced its \u2018Main Streets Across the World\u2019. The annual report determines the places where high-end retail is thriving, based on the average rent of a unit on a given street.<\/p>\n
This year, the planet\u2019s \u2018most expensive most expensive retail destination\u2019 was New Bond Street<\/a>. In 2024\u00a0the luxe stretch came third in the report, but a whopping 22 percent increase in rental costs over the past 12 months have now shot it up to top spot. Today, it costs a whopping \u00a31,706 per square foot, per year, to rent a space on the road.<\/p>\n If you\u2019ve ever strolled along New Bond Street, or been lucky enough to shop on it, you won\u2019t be surprised to hear this news. It\u2019s populated entirely by the sort of luxury designers that you\u2019d expect to hear a celeb brag about, like Louis Vuitton, Cartier, and Balenciaga, just to name a few.<\/p>\n The report said that London in general has benefited from a strong \u2018resurgence\u2019 in the global retail market. Rent costs for retailers across the city have gone up which indicates higher demand, with Oxford Street and Regent Street also seeing costs go up by more than 10 percent. This is great if you\u2019re a property investor, but less great if you\u2019re a consumer or business having to foot the bill.<\/p>\n Globally, the average rent across the streets that C&W surveyed grew by 4.2 percent. That means that the British capital has seen growth that well exceeds expectations, based on other similar cities.<\/p>\n Milan\u2019s Via Montenapoleone, last year\u2019s leader<\/a>, was knocked to second place because its rent hasn\u2019t gone up at all. Instead, it remained at a mere \u00a31,666 per square foot per year.<\/p>\n Why are Londoners falling for a fake Christmas market outside Buckingham Palace?<\/a><\/strong><\/p>\n Plus: Regent Street will close to traffic for the first time in five years<\/a>.<\/strong><\/p>\n Get the latest and greatest from the Big Smoke \u2013 from news and reviews to events and trends. Just\u00a0follow our Time Out London WhatsApp channel<\/a>.<\/strong><\/p>\n