EUR
enIstanbul's Istiklal Street ranked 1st in the world in terms of rental growth rates
International real estate company Cushman & Wakefield has published the report "World's Main Streets 2023", dedicated to rental rates for real estate in prime areas around the world. The report includes many street names from New York to Vietnam, Argentina to Milan. Istanbul's famous street ranked first on the Worldwide Main Streets Report's list for rental growth rates. Compared to last year, Istiklal Street rose from 31st to 20th place in the ranking, showing an annual rent growth rate of 127%, outpacing the rent growth rates of other major shopping streets in the world.
Istanbul is followed by Calle Florida in Argentina with 33% growth, Via Montenapoleone in Milan with 20% and Dong Khoi in Vietnam with 17% growth. Fifth Avenue, a street in midtown Manhattan in New York, retained the top spot as the world's most expensive shopping street with an annual rent of $2,000 per square meter. The most expensive place for shopping in Europe was Via Montenapoleone in Milan with an annual rent of 1,766 dollars per m2.
In Asia, the most expensive place for shopping was Tsim Sha Tsui Street in Hong Kong with an annual rent of 1,493 dollars per m2.
