Khan Market ranks 22nd globally among the most expensive retail locations, per Cushman & Wakefield's 2024 report. With annual rents of $229 per square foot, it remains India's premier high-street destination, showcasing its global retail prominence. New Delhi: The iconic Khan Market has once again proven its global retail prominence by ranking 22nd among the world’s most expensive high-street retail locations, according to Cushman & Wakefield’s Main Streets Across the World 2024 report.
With an annual rent of $229 (approximately Rs 19,330) per square foot, the vibrant shopping destination continues to lead India’s premium retail sector. The report, now in its 34th edition, analyses rents across 138 top retail destinations in the international space. This year, Milan’s Via Monte Napoleone claimed the top spot, with annual rents of $2,047 (approximately 1,72,875 Rs) per square foot, surpassing New York’s Upper 5th Avenue, which stands at $2,000 (approximately 1,68,906 Rs) per square foot.
Khan Market’s impressive ranking reflects a 7 per cent increase in rental values compared to last year. This growth underscores its resilience and appeal amid fierce global competition. Other international toppers in the list This year’s rankings spotlighted the rise of European retail, with Via Monte Napoleone becoming the first European street to top the list.
London’s New Bond Street ($1,762 per square foot), Hong Kong’s Tsim Sha Tsui ($1,607), and Paris’ Avenue des Cham.