According to the latest report from Cushman & Wakefield, Vitosha Boulevard in Sofia, also known as Vitoshka, ranks 51st among the world’s most prestigious shopping streets in its Main Streets Across the World 2024 report. With an average annual rent of 70 dollars per square foot, it is at the bottom of the European ranking but remains a prominent shopping destination in Bulgaria.

The report ranks 138 high streets around the world, evaluating their appeal to both international and local brands. Factors such as the presence of luxury brands, tourist flow, and consumer habits contribute to the rankings. While Vitoshka’s rent is relatively modest, it is still a key location in Bulgaria.

At the top of the list is Milan’s Via Montenapoleone, which surpassed New York’s Fifth Avenue to become the world’s most expensive shopping street. Rent on this iconic street has reached a staggering 2,047 dollars per square foot per year. This marks the first time a European street has claimed the top spot.

Vitoshka’s position in Europe is further highlighted when compared to some of the continent’s most famous shopping streets. For instance, Paris’s Champs-Élysées ranks fifth globally with an annual rent of 1,282 dollars per square foot, while New Bond Street in London is in third place with a rent of 1,762 dollars per square foot.

Within Central and Eastern Europe, Vitoshka competes with Budapest’s Váci Utca, which saw a 27% increase in rent and secured 42nd place on the list.

Other prominent streets in the ranking include Ginza in Tokyo, Bahnhofstrasse in Zurich, and Pitt Street Mall in Sydney, with rents reaching 1,762 dollars, 1,347, and 1,190 per square foot, respectively. The full top 10 list includes iconic streets like Hong Kong’s Tsim Sha Tsui, Paris’s Avenue des Champs-Élysées, and Vienna’s Kohlmarkt, underlining the global appeal of these locations for luxury shopping.