This is according to a report by Cushman & Wakefield, a commercial real estate services company.
In its 2024 Main Streets Across The World report, the BGC's ranking did not change from its previous position in 2023.
BGC's retail rent increased by 3% year-on-year, priced at $51 per square foot annually.
The most expensive retail street in 2024 is Via Montenapoleone in Milan, Italy, surpassing Fifth Avenue in New York City.
"This reflects robust rental growth on the Italian street, exceeding 30 percent in the last two years, further bolstered this year by the euro's appreciation against the US dollar," according to Cushman & Wakefield's report.
The rent on Via Montenapoleone's retail street increased by 11 percent, where the price is valued at $2,047 per square foot per day.
Upper Fifth Avenue is the second most expensive retail street, where rent is priced at $2,000 per square foot.
Also included in the list of expensive retail streets are New Bond Street in London, Tsim Sha Tsui in Hong Kong, and Avenue de Champs-Elysees in Paris, France.
(Photos by Marou Sarne)
