According to a survey by Cushman & Wakefield, which evaluated 92 locations across the globe, Via Montenapoleone in Milan is the third most expensive retail street in the world, with average annual rentals of 14,547 euros per square meter. It becomes the leading shopping street in Europe, overtaking New Bond Street in London and Avenue des Champs-Élysées in Paris, which are ranked fourth (14,346 euros / sqm per year) and fifth (11,100 euros / sqm per year) in the worldwide list, respectively. The research places the Milanese street behind Fifth Avenue in New York (with average rentals of 21,076 euros per square meter per year) and Tsim Sha Tsui in Hong Kong (15,134 euros). In the top 10 are also Tokyo's Ginza, Zurich's Bahnhofstrasse, Sydney's Pitt Street Mall, Seoul's Myeongdong, and Shanghai's West Nanjing Road. In key retail locations worldwide, rents decreased by an average of 13% during the peak of the Covid-19 epidemic, but have since increased by 6% from pre-pandemic levels. Europe's sales volumes were 4.1% higher at the start of 2022 than they were at the beginning of the epidemic. However, the recovery has been and will continue to be hindered by the effect of inflation on consumer and retail demand.
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