İstiklal Avenue ranked Istanbul’s busiest shopping street

ISTANBUL

Istanbul’s iconic İstiklal Avenue emerged as the city’s top high street last year, reaffirming its role as a dynamic center of retail, tourism and culture, a recent report has revealed.

Primed by Cushman & Wakefield, TR International, the report highlighted that İstiklal drew significant pedestrian traffic throughout the year, supported by a steady stream of cultural and artistic events.

Total annual footfall surpassed 90 million, with weekday visitors averaging 207,000, a 2 percent increase from the previous year and weekend traffic climbing by 7 percent to 313,500.

Monthly averages reached 7.5 million, making it the most visited shopping street in the city.

Stretching 1.4 kilometers, the avenue hosted 270 retail units last year, of which 258 were occupied, with international retailers making up 15 percent of its commercial mix.

Apart from İstiklal, the report covered two other key shopping areas across the metropolis: Bağdat Avenue and the Nişantaşı district.

Bağdat Avenue, undergoing widespread urban transformation and infrastructure upgrades, experienced a noticeable drop in pedestrian activity in 2024. Monthly footfall stood at 2.6 million on the avenue, bringing the yearly total down to 31.4 million.

Despite this, leasing activity remained strong, with 22 new store leases signed.

While Bağdat Avenue maintained the highest share of foreign brands at 21 percent, limited space availability forced brands to settle for smaller retail units.

The Nişantaşı district, comprising Rumeli, Teşvikiye, Vali Konağı, and Abdi İpekçi Avenues, on the other hand, saw a notable increase in weekend visitors, like İstiklal. The area’s monthly average visitor count rose to 3.1 million, resulting in a yearly total of 36.2 million.

The district matched Bağdat Avenue in leasing activity, with 22 new leases signed throughout the year.

Fashion, footwear and food & beverage brands led leasing activity in all of the high streets, with food & beverage growing from 23 percent to 32 percent of total new lease volume.

Positioned as a luxury shopping and lifestyle destination, Nişantaşı attracted both national and international upscale brands. It also ranked second for foreign brand presence, with international retailers accounting for 17 percent of the total store count.

Abdi İpekçi competes with global luxury streets

Among all streets, Abdi İpekçi Avenue in Nişantaşı commanded the highest rental value, maintaining its prime rent at $250 per square meter, surpassing major European shopping streets such as those in Amsterdam, Prague and Helsinki.

It was followed by İstiklal Avenue at $220 and Bağdat Avenue at $150.

Despite challenges such as limited space and high rental costs, the report predicts that new supply driven by ongoing urban transformation projects will support further growth in Istanbul’s high-street retail sector.