The recent Main Streets Across the World 2023 report by the American real estate firm Cushman & Wakefield doesn’t come as a surprise, outlining the list of the world’s most luxurious streets. The primary selection criterion was the cost of shop rentals, and Via Monte Napoleone in Milan, one of the four streets in the Quadrilatero della Moda (Fashion Square), met expectations. With an average price of €18,000 per square meter per year, it is placed only behind New York’s Fifth Avenue, which commands over €20,000 annually.
Main Streets Across the World 2023 Ranking
The 2023 ranking sees Milan‘s famous and luxurious Via Monte Napolone securing the second spot among the world’s most opulent streets, claiming the top position for European luxury streets.
A significant advancement compared to previous years: in 2019, it ranked only fifth, while in 2022, it earned a respectable bronze medal.
Here’s the ranking of the top 10 most expensive and luxurious streets globally:
- Fifth Avenue (New York)
- Via Monte Napoleone (Milan)
- Tsim Sha Tsui (Hong Kong)
- Avenues des Champs-Élysées (Paris)
- New Bond Street (London)
- Ginza (Tokyo)
- Bahnhofstrasse (Zurich)
- Pitt Street Mall (Sydney)
- Myeongdong (Seoul)
- Kohlmarkt (Vienna)
The report emphasizes how, in a period of recovery following the significant economic challenges post-pandemic, the retail sector has demonstrated resilience, recording an annual revenue growth of 8.5%.
A Central Role in the History of Italian Luxury
Milan‘s Via Montenapoleone (one word, as everyone knows it, even though the official designation is Monte Napoleone) was renamed after the unification of Italy, having passed through various names like Contrada di Sant’Andrea, Contrada del Monte di Santa Teresa, and Contrada del Monte Napoleone.
In the past, the street bore the nickname El Quartier de Riverissi, referring to the Milanese custom of tipping their hats in reverence to greet a lady residing there. Among the illustrious figures who stayed here, we must mention the dialectal poet Carlo Porta (1775-1821), the poet and notary Tommaso Grossi (1790-1853), and it seems that Giuseppe Verdi wrote the famous Nabucco during his stay on this street in 1840.
Today, it is one of the four arteries composing the Quadrilatero della Moda, along with Via della Spiga, Via Manzoni, and Corso Venezia. Numerous high-fashion houses own various shops and salons on this street, including Gucci, Dior, Louis Vuitton, Fendi, Bottega Veneta, Armani, Dolce & Gabbana, Prada, Herno, Versace, Alberta Ferretti (just to name a few).
