Ermou Street in central Athens has climbed one spot in Cushman & Wakefield’s annual ranking of the world’s most expensive shopping streets, now placing 15th globally, according to an article by Nikos Roussanoglou at ekathimerini.com.
The report, which tracks major retail market trends, shows that rental rates on Ermou have risen by 7 percent, reaching 310 euros per square meter per month, or €3,720 per square meter annually.
Growing tourism and increased investment activity have boosted both the commercial appeal and overall profile of Athens’ historic center, contributing to Ermou’s improved standing.
For the first time, London’s New Bond Street has taken the top position in the global ranking.
Source: ekathmerini.com
