Brussels, 21 November 2025 – Cushman & Wakefield publishes the 2025 edition of Main Streets Across the World, providing a comparative analysis of prime retail rents across 50+ countries. London’s New Bond Street is now the most expensive retail destination in the world, according to the latest edition of this flagship report. The iconic London high street takes over the top position from Milan’s Via Montenapoleone.
Prime Zone A rents on New Bond Street currently reach £2,750 sq ft/year. When standardized to general headline rents, expressed in euro per square metre, this corresponds to €20,482 per sq m/year, compared with €20,000 per sq m/year on Via Montenapoleone. For international comparison, local rents were converted to headline rents in both $/sq ft/year for global ranking purposes and subsequently to €/sq m/year.
Several factors explain London’s rise to first place. Sustained demand from top-tier luxury brands, combined with the arrival of high-profile flagship entrants, continues to intensify the competition for space along New Bond Street. Currency movements also played a role: because the report’s global ranking is presented in US dollars, the appreciation of the British pound against the dollar boosted London’s comparable rent. This contributed to its upward shift in the ranking compared to last year.
An interesting development in this year’s edition is that the top two positions are both held by European high streets, whereas New York’s Fifth Avenue historically dominated the ranking. Overall, European prime retail rents grew by 4.0% year-on-year as of Q3 2025, reflecting the region’s resilient retail performance and ongoing appetite for best-in-class locations.
In this global ranking, where the most expensive destinations of the monitored countries are considered, Belgium retains the 29th position this year, supported by the continued stability of rental levels on Antwerp’s Meir.
The report also includes a dedicated European ranking, which lists all monitored high streets across the continent. In this regional comparison, Antwerp Meir again holds its position at 41, followed closely by Brussels’ Rue Neuve, which ranks 43 this year, down one place from last year’s 42. Rue Neuve was overtaken by Chiado in Lisbon, where prime rents increased by 4% year-on-year.
Belgium’s retail ranking shows overall stability this year, with Antwerp’s Meir, Brussels’ Rue Neuve and Avenue Louise maintaining their positions as the country’s three most expensive high streets. Notable performances were recorded in Bruges and Hasselt, where prime locations continue to attract strong occupier interest.
A broader trend across the Belgian market is the strong performance of prime retail streets, supported by an active letting market and sustained demand from both international and domestic retailers. Secondary locations, however, are feeling pressure, largely due to shifting retailer strategies: instead of pursuing wide geographic expansion, many brands are now focusing on fewer, stronger and more experiential flagship stores. This strategic shift reinforces the strength of the prime locations while widening the performance gap with secondary retail areas.
"Brussels and Antwerp continue to be the two cities with the strongest appeal for international retailers. In both Rue Neuve and Meir, current demand exceeds the available supply. For us, it confirms the solid performance of retail in today’s commercial letting market." – says Nicolas Diercxsens, Partner in the Retail Agency department of Cushman & Wakefield Belgium.
