Outpaced Fifth Avenue: Which Street in the World Became the Most Expensive.
The most expensive shopping streets in the world have undergone changes. Montenapoleone Street in Milan now outpaces Fifth Avenue in New York in terms of rental prices. This street is a magnet for the richest people from around the world, willing to spend over 2500 euros on a purchase, which is the highest average transaction value in the world.
The new epicenter of luxury has become Montenapoleone Street, which has become the most popular among luxury stores in Milan, surpassing Fifth Avenue. It is attractive to both tourists and affluent locals. Tourism in Milan is thriving thanks to luxury events and tax incentives that attract brands to open their stores on Montenapoleone.
The feature of Montenapoleone is its short length and limited retail spaces, which distinguishes it from other shopping streets in the world. Here, buildings can cost billions of dollars, and only the largest brands can afford it.
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