London’s New Bond Street has become the world’s most expensive retail destination, with annual rents reaching $2,231 per square foot — a 22% increase that pushed it past Milan’s Via Montenapoleone ($2,179) and New York’s Upper Fifth Avenue ($2,000), according to Cushman & Wakefield’s “Main Streets Across the World” report. The ranking reflects intense competition for limited space, particularly in the luxury jewelry segment. Globally, approximately 58% of prime retail locations tracked saw rental growth, driving a 4.2% average increase worldwide. Hong Kong’s Tsim Sha Tsui maintained its position as the world’s fourth most expensive retail location despite a 6% rental decline to $1,515 per square foot.