Sofia's Vitosha Boulevard Among Europe's Priciest Shopping Streets

Vitosha Boulevard in Sofia ranks 51st among Europe's most expensive shopping streets, according to a study by an international consulting firm. Rents on this main shopping street have increased by 4% year-on-year, reaching an average of 54 euros per square meter. Interest in Vitosha Boulevard primarily comes from restaurants and bars, a trend observed for several years.

Fashion brands and other retailers are now focusing more on malls and retail parks, as noted by the consulting firm.

New York's Fifth Avenue remains the world's most expensive shopping street, with rents of 1,700 euros per square meter, showing a 14% growth compared to pre-pandemic levels. In the past year, two of the world's most expensive shopping streets have swapped positions: Milan's Via Monte Napoleone has climbed to second place, while Tsim Sha Tsui in Hong Kong has dropped to third.