İstiklal Street in Istanbul has been ranked 22nd worldwide in Cushman & Wakefield’s Main Streets Across the World 2025 report, a league table based on headline prime retail rents.
The report focuses on the prime rental values of major shopping streets in the world’s most prestigious city centers.
As in the previous year, İstiklal Street held its 22nd position globally in 2025 with a rental value of 2,251 euros per square meter per year, the report said. In the European ranking, it also maintained its 36th position, unchanged from last year.
According to this year’s findings, New Bond Street in London, for the first time, claimed the title of the world’s most expensive retail destination, with a rental value of 20,482 euros per square meter per year, surpassing strong competitors such as Via Montenapoleone in Milan (20,000 euros) and Upper Fifth Avenue in New York (18,359 euros).
This rise of New Bond Street is attributed to factors such as strong demand and limited supply in the area, the report noted.
At the global level, rents rose a further 4.2 percent over the past year, a slight moderation on the 5 percent recorded in the year prior, but still well ahead of the rate of global inflation, according to the study.
The overall assessment of the report confirms the resilience of prime retail destinations despite macroeconomic challenges.
“With easing inflationary pressures, rising real wages and a recovery in international tourism, the positive momentum in main shopping streets is expected to strengthen further in the coming period,” the report said.
