As per Cushman and Wakefield, Via Montenapoleone in Italy's Milan is world's most expensive retail market to rent, with a yearly rent of $2,047/sqft. New York's Upper 5th Avenue slipped to the second rank with $2,000/sqft annual rent. London's New Bond Street, Hong Kong's Tsim Sha Tsui and Paris' Avenue des Champs Élysées are also part of the list.