Against a backdrop of a general increase in prime rents and store openings, the most prestigious global thoroughfares prospered in 2024. Performance is expected to stabilize in 2025, against a backdrop of geopolitical and commercial uncertainty for the luxury sector.
Fifth Avenue in New York, Tsim Sha Tsui in Hong Kong and Bond Street in London were the three leading streets in 2024 in terms of the high cost of their commercial rental values.
In general, the latest Savills study reveals a general trend of rising prime rents last year, after the decline of 2023. Of the 21 destinations monitored by the international real estate consultancy, more than 75% actually posted annual increases or maintained these high-end rents last year.
Contrasting developments
But there are also contrasting developments in the top three of the most popular streets for luxury brands, depending on their geographical location.
Discover our plans Subscribe for 1€ Become an active member of the community of luxury leaders.
To continue reading this article, subscribe or log in to your account
Read also > Cushman & Wakefield report: the race for prestigious locations continues in Europe
Featured photo: © Unsplash
