During the last two years Chiado “has registered a high volume of new openings, totalling more than 5,700 square meters of useful area in close to 40 new openings”. And, “more than 60% of this area corresponds to the restaurant sector, followed by fashion with 20%”.

 

Even so, the rent values on Rua Garrett are far from the prices charged on Fifth Avenue, in New York, which is the most expensive area in the world in terms of rents charged to commerce, where values reach an average of 20,384 euros per year, rising 14% compared to 2019.

Second place in the table is occupied by Via Montenapoleone, in Milan, where retail rents grew 20% this year compared to 2022 and 31% compared to 2019, reaching 18 thousand euros per year per square meter, dethroning Tsim Sha Tsui, in Hong Kong, which fell to third place with 15,219 euros per square meter per year, 4% more compared to last year.

In fourth place comes New Bond Street, in London, with 14,905 euros per year per square meter, 11% below the values charged in the pre-pandemic period.

The fifth place from the top is occupied by Avenue des Champs-Élysées, in Paris, where retail pays an average annual rent of 11,414 euros per square meter. 18% less when compared to 2019.

 

In  TPN