Bond Street and Sloane Street in the world’s top 10 most expensive areas for luxury retailers
In 2025, total new store openings globally fell to their lowest level since 2020, as brands prioritised high-quality locations that align with their long-term positioning. Two of London’s top rime luxury retail streets rank among the most expensive retail destinations in the world, according to a benchmark from Savills.
Savills is a global real estate services provider listed on the London Stock Exchange. Originally founded in the UK in 1855, Savills has an international network of over 700 offices and associates employing over 40,000 people across the Americas, UK, Europe, Asia Pacific, Africa, and the Middle East.
Putting this expertise to work, Savills has published research exploring the real estate market for luxury retailers. And as brands become increasingly selective in their global expansion strategies, two areas of London are strengthening its position as a key destination for premium retail investment, supported by rising wealth levels, significant investment in luxury hospitality and lifestyle-led developments, and the region’s longer-term appeal as a global destination.
According to Savills Global Luxury Retail Outlook 2026, it is Bond Street, which is by far the most expensive luury etail destination in the whole world. Located in the West End of London, the area was first built in the 1720s, and had already become a popular place for Mayfair’s upper-class residents to socialise. Businesses quickly followed the money – and by the end of the century, Bond Street soon came to house many prestigious fashion retailers of the day. Building on this legacy, the street has become one of the most sought after real estate strips in the world – home to auction houses Sotheby’s and Bonhams, as well as the Fenwick department store, and the jeweller Tiffany’s.
This helped the locale reclaim its position at the top of the global prime luxury retail rankings at the end of 2025, with headline rents reaching around €19,000 per sqm per annum. 2024 had seen a brief shift in 2024, when Hong Kong’s Tsim Sha Tsui led the rankings – and Milan’s Via Monte Napoleone and Paris’ Avenue Montaigne also moved higher, reinforcing the renewed dominance of a small group of established European luxury streets within the global hierarchy.
Sloane Street also moved up the rankings however, further establishing London’s reputation as the chosen destination for the global retail elite. Sloane Street came to fame via a similar route to Bond Street. Taking its name from Sir Hans Sloane, who purchased the surrounding area in 1712, the street quickly became a hub for the city’s wealthiest residents – a trend that continues into the modern era, as many of the properties in the street still belong to Sloane’s descendants. This includes the Earls Cadogan, via their company Cadogan Estates. It now hosts flagship stores for many of the world’s most famous brands, including Harrods and Harvey Nichols, while investment from the UAE in the 1990s further expanded this.
The obvious benefit for luxury retailers – that it is easiest to find buyers for expensive products in affluent areas – means that places like Bond Street and Sloane Street see intense competition for best-in-class units, as the historic areas cannot easily be expanded. Savills says this has seen sustained rental growth, widening the gap between these streets and the broader luxury retail market. In some cases, depth of demand has been sufficient for the most desirable units to transact at levels materially above these indicative prime headline rents
The good news for luxury retailers on Bond Street and Sloane Street is that their target customer-base, the wealthiest residents of London, are positive on their personal finances, and expect to have more disposable income. Polling high-net-worth individuals across five of the world’s leading economies, Savills found 41% in the UK expect that increase, while 49% expect their property and investments to grow in value – indicating they will be willing to spend more on luxury goods in the near-future.
