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Portugal ranks in the Top 30 most expensive retail streets in the world


Portugal ranks in the Top 30 most expensive retail streets in the world - portugal news
Portugal ranks in the Top 30 most expensive retail streets in the world - Portugal Business News





Portugal real estate news - Portugal ranks in the Top 30 most expensive retail streets in the world for luxury brands.



What is the most expensive retail street in Portugal?


The most expensive retail street for shopping for luxury brands in Portugal is located in Lisbon’s downtown Chiado, where rental prices for prime commercial space costs EUR 1,500/m2. Commercial real-estate located in Lisbon’s Chiado shopping streets ranks 29th most expensive in the world in the ranking of most expensive Main Streets Across the World in 2023.


While prices for commercial real estate in Lisbon’s Chiado shopping streets rank 29th globally, they are less expensive than in the main shopping streets of a few other European cities such as in Milan, London, Paris, and Vienna.


Lisbon’s Chiado shopping streets have retained their exclusivity due to the shortage of supply in the 'super prime' retail locations market segment and this is reflected in high rental values. There have been around 40 new openings totaling more than 5,700 square meters over the last two years in Lisbon’s Chiado shopping streets according to a new study by Cushman & Wakefield.


The commercial real-estate market in Lisbon’s Chiado shopping streets is divided into 20% of the rental space occupied by the fashion market segment and 60% of the rental space occupied by restaurants.


Tourism linked to shopping for luxury brands has registered a 9% growth globally with the luxury market sector set to reach € 1.5 trillion in 2023 despite economic headwinds. In Europe, the prices for commercial real-estate rentals in the retail market segment have increased by 4.2% in 2023.


Retail therapy is still as popular as it has ever been, and luxury brands have rushed to secure or upgrade their flagship stores that are located on the main streets of key tourism destinations.


International brand names stand out by occupying prime space on the most expensive shopping street in key markets, since online shopping does not allow for such differentiation. Among the Top 30 prime urban locations globally that are associated to international luxury brand names, Lisbon’s Chiado shopping streets are considered to be prime property for commercial real-estate in the retail market segment.





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