Friday, December 8, 2023

Palma shopping street one of the most expensive in Spain

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The report ‘Main Streets Across the World’ from real estate consultancy Cushman & Wakefield ranks Avda. Jaume III in Palma as the fourteenth most expensive shopping street in Spain.

The analysis is based on average rents. On Jaume III this is 1,140 euros per square metre per year, which is cheap by comparison with Spain’s most expensive – Passeig de Gràcia in Barcelona (3,000 euros per square metre).

Calle Serrano in Madrid is Spain’s second most expensive (2,940 euros). Other streets in Barcelona and Madrid complete the top five.

The most expensive in the world is New York’s Fifth Avenue, where the average rent is equivalent to 20,384 euros per square metre per year. Milan’s Via Montenapoleone is second with €18,000, followed by Tsim Sha Tsui in Hong Kong (€15,219), London’s New Bond Street (€14,905) and the Champs-Élysées in Paris with €11,414.

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