Bonifacio High Street Ranks 43rd Most Expensive Retail Location in the World

(SPOT.ph) If any street in Metro Manila was going to make it to Cushman & Wakefield’s Main Streets Across the World report, it’s no surprise that Bonifacio High Street got the nod. It’s the place where we people-watch, party, and pose for Instagram-worthy pictures—and let’s face it, many still treat it like a tourist spot.

So yes, Bonifacio High Street in Bonifacio Global City (BGC) ranked 43rd on the list of the most expensive retail locations in the world in 2024. Rent is pegged at $51 (roughly P3,000) per square foot per year, which might not sound like much—until you realize how big a typical shop is.

Boutique stores usually range between 500 and 1,500 square feet, while flagship stores or larger retail outlets might occupy spaces of 2,000 square feet or more.

Bonifacio High Street has been a retail and lifestyle favorite since it opened in 2007, offering a mix of international brands, local shops, restaurants, and cafes set along a pedestrian-friendly, open-air strip with landscaped greenery and public art. Over the years, it has expanded to include High Street Central in 2012 and Central Square in 2014.

Industry experts at Cushman & Wakefield noted that BGC's development into a retail hotspot mirrors broader trends in the Asia-Pacific (APAC) region, where cities are investing in premium retail spaces to cater to a burgeoning middle class. In fact, three of the top 10 most expensive retail streets are already located in APAC.

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10 most expensive retail streets in the world

Cushman & Wakefield looked at annual rental values across 138 prime retail streets globally.

Leading the rankings, Milan's Via Montenapoleone has overtaken New York's Upper Fifth Avenue as the world's most expensive retail street with a jaw-dropping rent of $2,047 (or roughly P120,000) per square foot per year. London’s New Bond Street rounded out the top three.

1. Via Montenapoleone, Milan, Italy
2. Fifth Avenue, New York, United States
3. New Bond Street, London, United Kingdom
4. Tsim Sha Tsui, Hong Kong, Greater China
5. Avenue des Champs-Elysees, Paris, France
6. Ginza, Tokyo, Japan
7. Pitt Street Mall, Sydney, Australia
8. Myeongdong, Seoul, South Korea
9. Bahnhofstrasse, Zurich, Switzerland
10. Kohlmarkt, Vienna, Austria

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