This is world’s most expensive shopping street, average customer bill come to Rs 2 lakh, it is located in…, rent is…, not in India, US, London, Paris, Singapore

Apart from being a paradise for fashion lovers, it is also admired for its stunning historic architecture. However, shopping here comes with a hefty price tag—the rent on this street is among the highest in the world.

Do you know which is the most expensive shopping street in the world? If not, let us tell you! The title now belongs to Via Monte Napoleone in Italy. According to Cushman & Wakefield, this Milan-based street has been crowned the world’s costliest shopping destination. Before 2024, Fifth Avenue in New York held this top position.

Located in Milan’s fashion district (Quadrilatero della Moda), Via Monte Napoleone is one of the most luxurious shopping destinations in the world. It is home to flagship stores of renowned designer brands such as Gucci, Prada, Louis Vuitton, Chanel, and Dolce & Gabbana. Alongside high-end fashion, the street also features exclusive jewelry boutiques and Italian shoemakers.

Apart from being a paradise for fashion lovers, Via Monte Napoleone is also admired for its stunning historic architecture. However, shopping here comes with a hefty price tag—the rent on this street is among the highest in the world!

Average shopper spend: Rs 2 Lakh

On Via Monte Napoleone, a shopper spends an average of Rs. 2 lakh on shopping. Milan has become a hotspot for wealthy tourists, attracting high-spending visitors from around the world. Events like Fashion Week and Design Week further boost its reputation as a global luxury destination.

Due to tax benefits, many affluent individuals have even moved to Milan, making the city even more attractive for luxury brands. As a result, top international brands are eager to open their stores on this prestigious shopping street.

Rent: Rs. 1.7 lakh per square meter

Opening a store on Via Monte Napoleone is extremely expensive, with rent costing USD 2,047 (Rs.1.7 lakh) per square meter. Due to its limited space and high demand, property prices are skyrocketing.

Buildings on this luxury street sell for millions of dollars. In early 2024, Gucci’s parent company, Kering, purchased a prime building on Via Monte Napoleone, further cementing the street’s status as the world’s most expensive shopping destination.