London’s Bond Street, where, in addition to boutiques for Chanel, Louis Vuitton and Dior, the flagship Rolex store recently opened, has reclaimed its title as the most expensive shopping street in Europe.
Its status has been confirmed on the world stage: in the global ranking of the most expensive streets for shopping, it took third place, behind only Fifth Avenue in New York and Tsim Sha Tsui in Hong Kong.
The growth in demand for the physical presence of brands in prestigious locations was facilitated by the return of interest in offline shopping and the stabilization of the luxury market after the pandemic. In addition, experts noted that for many premium buyers, not only the goods are important, but also the experience of visiting boutiques, writes The Times.
According to property agency Savills, rents on Bond Street have risen by 20% in the last year to a record £13,162 per square metre – more than Milan’s Via Monte Napoleone, which topped the list of the most expensive streets in 2024. Savills said the rise in prices was due to intense competition for retail space, as well as a return to demand for prime properties, much of which are located on central streets such as Bond Street.