The Viennese Kohlmarkt is and remains an expensive place. Due to the high rents, the luxury shopping street will continue to be one of the most expensive top shopping areas internationally in 2024.
With a rent per square meter of $553 (523 euros) per year, the Kohlmarkt is the most expensive shopping street in Austria – and not just for property tenants. Prices there have risen by five percent in just one year.
Milan tops the rankings
Milan’s Via Montenapoleone has become the most expensive shopping street in the world for the first time. This is evident from the report ‘2024 Main Streets Across the World’, which was published on Wednesday by real estate group Cushman & Wakefield.
Via Montenapoleone has overtaken Upper Fifth Avenue in New York City to become the first European luxury mile to capture the number one spot in the report’s 34-year history.
Over the past two years, rental prices for shops in Milan’s luxury street have risen by more than 30 percent.
New Bond Street in London took third place, ahead of Tsim Sha Tsui, Hong Kong’s main shopping street. The Avenue des Champs Élysées in Paris came in fifth place.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
