Pařížská Street in Prague has solidified its place among the 20 most expensive shopping streets in the world.
According to the latest ranking by Cushman & Wakefield, the prestigious street is ranked 20th globally, maintaining its reputation as a hub for luxury retail in Central Europe.
The biggest surprise this year is the new leader of the list: Milan’s Via Montenapoleone, which has overtaken the iconic Fifth Avenue in New York as the world’s most expensive shopping street.
The annual Main Streets Across the World report analyzes retail rents in 138 prime locations across nearly 50 countries. It focuses on streets synonymous with luxury shopping, where top brands compete for visibility.
This year, the highest rent in Pařížská was reported at €2,700 per square meter annually, equivalent to €225 per square meter per month. While this figure remains unchanged from last year, the street moved up one spot in the rankings.
“Pařížská Street remains the leading entry point for luxury brands targeting Central and Eastern Europe, with new flagship stores opening each year,” said Jan Kotrbáček, Partner and Head of Central and Eastern Europe Retail Leasing at Cushman & Wakefield.
Recent additions to the street include Balmain Hair Couture and Le Labo, joining the ranks of Ralph Lauren, Jimmy Choo, and Zadig & Voltaire.
Kotrbáček highlighted the avenue’s unique mix of historical charm and a comprehensive range of global luxury brands, making it a standout destination in Central Europe.
Pařížská’s upward trajectory is expected to continue with the completion of two major projects: the Fairmont Golden Prague Hotel and a new development at Pařížská 25. These ventures will introduce new luxury stores, restaurants, wellness facilities, and entertainment venues, further enhancing the street’s appeal.
Prague’s Luxury Market
Beyond Pařížská, other key shopping areas in Prague are thriving. Na Příkopě Street and the lower section of Wenceslas Square offer monthly rents of around €220 per square meter, ranking just behind Pařížská.
In Brno, the Czech Republic’s second-largest city, shopping streets like Česká, Masarykova, and Náměstí Svobody see monthly rents between €65 and €70 per square meter.
Europe Dominates the Rankings
For the first time, a European street leads the global ranking. Milan’s Via Montenapoleone surged to the top with rents rising by nearly 30% over the past two years, supported by strong retail demand and a strengthening euro.
New York’s Upper Fifth Avenue held second place, while London’s New Bond Street climbed to third, overtaking Hong Kong’s Tsim Sha Tsui. Paris’s Avenue des Champs Élysées retained fifth place, followed closely by Tokyo’s Ginza District, which recorded a 25% increase in rents.
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