Delhi's Khan Market 22nd most expensive retail location: Which is ranked 1st? It's not in New York or Paris

Khan Market, one of Delhi’s most prestigious retail and dining destinations, has been ranked as the 22nd most expensive high-street retail location globally, according to Cushman & Wakefield's latest Main Streets Across the World report. The market continues to hold the highest rank in India with an annual rental rate of $229 per square foot, equivalent to over ₹19,000.

Milan’s Via Montenapoleone dethroned New York City’s Fifth Avenue as the world’s priciest retail destination, marking the first time a European location has claimed the top spot. While Khan Market maintained its rank, other Indian retail locations demonstrated strong rental growth amid the robust domestic economic performance.

“The situation In Asia Pacific closely resembles wider macroeconomic performance within the region. The Indian economy has been the strongest major economy in the world this year, a trend reflected in its robust rental growth performance,” the report said.

Globally, retail rents increased by an average of 4.4% over the past year, though performance varied by region. In Asia-Pacific, India emerged as a standout, while locations in Greater China faced downward pressure due to weaker domestic consumption.

Here's the list of the 25 most expensive high-street retail locations:

1. Italy, Milan, Via Montenapoleone
2. US New York City Upper 5th Avenue (49th to 60th Sts)
3. United Kingdom London New Bond Street
4. Greater China, Hong Kong, Tsim Sha Tsui (main street shops)
5. France, Paris, Avenue des Champs-Elysees
6. Japan, Tokyo, Ginza
7. Switzerland, Zurich, Bahnhofstrasse
8. Australia, Sydney, Pitt Street Mall
9. South Korea, Seoul, Myeongdong
10. Austria, Vienna, Kohlmarkt
11. Chinese mainland, Shanghai, West Nanjing Road
12. Singapore, Singapore, Orchard Road
13. Germany, Munich, Kaufinger/Neuhauser
14. Vietnam, HCMC, Dong Khoi
15. Greece, Athens, Ermou
16. Spain, Barcelona, Passeig de Gracia
17. Ireland, Dublin, Grafton Street
18. Netherlands, Amsterdam, P.C. Hooftstraat
19. Malaysia, Kuala Lumpur, Suria KLCC
20. Czech Republic, Prague, Parizska Street
21. Türkiye, Istanbul, Centre - Istiklal Street
22. India, New Delhi, Khan Market
23. Canada, Toronto, Bloor Street
24. Norway, Oslo, Nedre Slottsgate
25. Sweden, Stockholm, Biblioteksgatan