Anyone who’s frequented London at all any time in the last few years can attest to how spenny things are.
And it’s no surprise that a particularly swanky locale in the capital has taken its rightful place on the ranks of most expensive shopping districts across the globe.
In fact, it’s the fourth costliest place for a spot of retail therapy in the world, according to a report which looks at the prices offered by retailers.
Real estate firm Cushman & Wakefield reveals the priciest retail destinations every year, with Bond Street making the prestigious top five.
The company compared rents paid by these main streets around the world, which correlates to luxury boutiques with extravagant price tags moving in.
The more retailers pay for rent, the more expensive their products tend to be. So, it’s unlikely you’ll see a budget store in Bond Street given how much real estate costs in the area.
According to the research, New Bond Street apparently has an average rental price of €14,905 (£12,970) per square metre every year, which might explain the designer prices found in the area.
You’ll find the likes of Alexander McQueen, Bottega Veneta, Burberry, Cartier, Chanel, Dior, Dolce and Gabbana, Gucci, Louis Vuitton, Prada and Valentino lining the streets, making it the place to go if you want to treat yourself.
Meanwhile, New York City’s Upper 5th Avenue (49th to 60th Streets) – which had an average rent of €20,384 (£17,736) – topped the list, with Milan’s Via Montenapoleone (€18,000/£15,661) and Hong Kong’s Tsim Sha Tsui (€15,219 / £13,242) following closely behind.
If you’re watching your pennies when you’re travelling, these regions are probably best avoided – unless you fancy some aspirational window-shopping that is.
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