Pařížská Street Among World’s Most Expensive Shopping Streets

Prague’s Pařížská Street has for the first time been ranked among the most expensive streets in the world in terms of rents in a ranking compiled by consultancy Cushman & Wakefield.

Overall, Pařížská came in seventeenth place. It overtook Na Příkopě Street, which had appeared in the ranking since 2004. The most expensive street in the world is the upper part of Fifth Avenue in New York.

Cushman & Wakefield annually compares 68 countries around the world by the highest rent achieved on the most expensive shopping street. The ranking always includes one most expensive streets from each country.

The highest annual rent in Pařížská is EUR 2,719 (CZK 66,200) per square metre. In local currency terms, this is about the same as before the covid-19 pandemic.

The 17th position in the world ranking is the highest ranking for a Czech street since 2005, when Na Příkopě Street finished in the same place.

Overall, Paris is the thirtieth most expensive in Europe. Na Příkopě Street ranks 33rd in the European comparison with an annual rent of 2,460 euros per square meter.

Cushman & Wakefield’s Main Streets Across the World report, launched in 1988, tracks the top retail streets across 92 cities and ranks the most expensive by prime rental value utilising Cushman & Wakefield’s proprietary data.

An annual report until 2019, this is the first since then—allowing insight into comparative performance pre- and post-pandemic.

“The industry has been through one of the biggest stress tests imaginable over the past few years, but best-in-class retail real estate has remained robust,” Cushman & Wakefield head of EMEA retail at Robert Travers said.

“While we now face new economic challenges, the conversation has shifted from pessimism to retail´s omnichannel evolution.

“Many brands are playing the long game and seeking to secure prime opportunities to adapt to ever-demanding customer needs.

The world’s most expensive streets by annual rent in euros per square metre

1. Upper 5th Avenue in New York (21 076)

2. Tsim Sha Tsui in Hong Kong (15 134)

3. Via Montenapoleone in Milan (14,547)

4. New Bond Street in London (14 346)

5. Avenue des Champs-Élysées in Paris (11 069)

6. Ginza in Tokyo (9,956)

7. Bahnhofstrasse in Zurich (8927)

8. Pitt Street Mall in Sydney (7624)

9. Myeongdong in Seoul (5973)

10. West Nanjing Road in Shanghai (5225)