Ermou Street in Athens is still among the 15 most expensive in the world

Ermou Street in the center of Athens ranks as the 14th most expensive shopping street in the world, rising one position higher than before the pandemic.

The most expensive in the world for 2022 is Fifth Avenue in New York, but the Athenian Ermou is surely getting close to it. One reason is the cost of rent, which can only be afforded by high-end stores with high markups or international brands. Currently, the average rental price on this street is 3,200 euros per sq.m. per year or about 267 euros per month, which is 4% less than in the period before the coronavirus. But, nevertheless, it is 6% higher compared to last year.

Data taken from annual survey well-known consulting firm Cushman & Wakefield on the main shopping streets of the world in Global Rankings 2022: Most Expensive Retail Districts by City. Physical stores in central locations around the world have passed the Covid-19 ‘stress test’ and are now showing rent recovery, according to the survey.

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