Nowy Świat street is considered by many to be Poland's most expensive retail street and is among the most expensive retail locations in the world, as well as one of the top international retail locations in the luxury segment, according to a new study from a firm that specializes in global retail locations. This is further confirmed by the "Main Streets Around the World" rankings that were released earlier this year.
4 hours Ago By Oskar Malec
Nowy Świat in Warsaw...the world's most prestigious retail district!
Nowy Świat was ranked 35th out of all retail streets in the world. It is the only retail street in Poland to be included in the report. It is estimated that rental rates on Nowy Świat for 2020 are expected to be €1,104 per square meter. This represents a 7% increase over last year's figure of €1,046.
The report also indicates that the stability of Nowy Świat continues to be reflected in its position; it has only dropped one spot from last year's ranking, and continues to attract interest from high-end stores, restaurants, and cafes, while also providing an opportunity for additional growth as the number of people walking or visiting the street exceeds pre-pandemic levels.
Nowy Świat has a long history, including being devastated by the Warsaw Uprising in 1944, when, following World War II, it was rebuilt. The street's post-war restoration and rebuild of Nowy Świat took place in an early 19th century architectural style, instead of an Art Nouveau style lot due to the high cost of reconstruction of the street.
New Bond Street in London was reported to have the highest ranking in the world and reported record rental increases (22% up to €20,482 per square meter). Via Montenapoleone in Milan ranked second with €20,000 per square meter, and Upper Fifth Avenue in New York City came in third with €18,359 per square meter. The European retail marketplace has witnessed rent growth of about 4% overall in 2020, with the largest increases in Budapest and London.
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