Milan's Via Monte Napoleone surpasses NYC's Fifth Avenue as world's priciest shopping street.

Milan's Via Monte Napoleone has become the world's most expensive shopping street, overtaking New York's Fifth Avenue. Rents on Via Monte Napoleone increased 11% to $2,047 per square foot, while Fifth Avenue's rents remained flat at $2,000 per square foot. The shift is attributed to high demand and limited supply in Milan, driven by a luxury tourism boom and tax incentives for high-net-worth individuals.

November 20, 2024
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