London’s New Bond Street has been crowned the world’s priciest retail destination for the first time, while Bucharest’s Calea Victoriei is in 39th place globally, according to Cushman & Wakefield’s latest Main Streets Across the World report. Rents in Calea Victoriei recorded the 3rd highest growth among the 50 analysed markets worldwide.
Calea Victoriei, the main retail street in Bucharest, boasts a prime rental rate of EUR 70/sqm/month, 17% higher than last year. This places the Romanian capital 39th worldwide and 24th in Europe, on par with Zagreb.
Rents in Prague (EUR 235/sqm/month), Budapest (EUR 160/sqm/month), Warsaw (EUR 92/sqm/month), and Belgrade (EUR 90/sqm/month) were above the Bucharest benchmark.
Meanwhile, lower values were recorded in Sofia (EUR 61/sqm/month), Bratislava (EUR 45/sqm/month), Vilnius (EUR 39/sqm/month), Riga and Tallinn (EUR 35/sqm/month), or Skopje (EUR 28/sqm/month).
Dana Radoveneanu, Head of Retail Agency Cushman & Wakefield Echinox, commented: “Although the luxury retail market in Romania is still emerging within Europe, continued investment from international brands and retail developers is enhancing the appeal of iconic streets. Calea Victoriei, the only commercial street in Romania included in this global ranking, continues to attract luxury retailers. Establishing a presence on this street, in the heart of Bucharest, is a strategic move that provides a significant competitive advantage.”
London’s New Bond Street, where rents have risen by 22% in the past year to EUR 1,707/sqm/month, has been named the world’s most expensive retail destination for the first time. It leapfrogged Milan’s Via Montenapoleone (EUR 1,667/sqm/month), which last year became the first European street to top the global rankings, and New York’s iconic Upper Fifth Avenue (EUR 1,530/sqm/month), in the 2025 edition of the report.
Using Cushman & Wakefield’s proprietary data, the report focuses on headline rents in 141 best-in-class urban locations across the world, which, in many cases, are linked to the luxury sector. It includes a global index ranking the most expensive destination in each market.
Globally, rents grew on average at 4.2% with 58% of markets experiencing rental growth. The Americas led regional rental growth at 7.9%, driven by currency effects in South America. Europe experienced steady 4% year-on-year growth, with standout performances in Budapest and London.
Meanwhile, rents in the Asia Pacific slowed to 2.1%, with strong growth in India and Japan offset by economic headwinds in Greater China and Southeast Asia, the Cushman & Wakefield report said.
irina.marica@romania-insider.com
(Photo source: Alexandru Arhire/Dreamstime.com)
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