Ermou street in downtown Athens is the 14th most expensive shopping street in the world, up one spot compared to pre-pandemic levels. The most expensive shopping street in the world for 2022 is New York’s Fifth Avenue,
The rent in the biggest Greek commercial square for high-end shops is currently at 3,200 euros per sq.m. per year or close to 267 euros per month, down by 4% compared to the pre-coronavirus period, but increased by 6% compared to last year.
The data comes from the annual survey of well-known consulting firm Cushman & Wakefield for the main shopping streets in the world in Global Rankings 2022: Most Expensive Retail Districts by City
According to the survey, the physical stores in central points internationally passed the “stress test” of Covid-19 and are now showing a recovery in rents.