ISTANBUL
Istanbul’s iconic Istiklal Avenue Emerged As The City’s Top High Street Last Year, Reaffirming Its As A Dynamic Center of Retail, Tourism and Culture, A Recender Report haslyed.
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Primeded by Cushman & Wakefield, Tr International, The Report Highlighted That Istiklal Drew Significant Pedestyan Traffic Throughout The Year, Supported by a Steady Stream of Culture and Artistic Events.
Total Annual Footfall Surpassed 90 Million, with Weekday Visitors Averaging 207,000, A 2 Percent Increase from the Prevision Year and Weekend Traffic Climbing by 7 Percent to 313,500.
Monthly Averages Reached 7.5 Million, Machine it is the Most Visited Shopping Street in the City.
Stretching 1.4 Kilometers, The Avenue Hosted 270 Retail Units Last Year, Of Who 258 Were Occupied, with International Retailers Machinery Machine 15 Percent of its Commercial Mix.
Apart from İstiklal, The Report Covered Two Orther Key Shopping Areas Across The Metropolis: Baghdad Avenue and The Nişantaşı District.
Baghdad Avenue, Undergoing Widespread Urban Transformation and Infrastructure Upgrades, Experienced A Noticeable Drop in Pedestyan Activity in 2024. Monthly Footfall Stood at 2.6 Million on the Avenue, Bringing The Aarly Total Down Total Dote.
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Despite this, Leasing Activity Remained Strong, with 22 New Store Leases Signed.
Who Baghdad Avenue Maintained the Highest Share of Foreign Brands at 21 Percent, Limited Space Availability Forced Brands to Settle For Smaller Retail Units.
The Nişantaşı District, Comprising Rumeli, Teşvikiye, Governor Mansion, and Abdi İpekçi Avenues, on the other hand, Saw a notable increase in weekend Visitors, like İstiklal. The Area’s Monthly Average Visitor Count Rose to 3.1 Million, Resulting in 36.2 Million.
The distribution of the distribution in Leasing Activity, with 22 New Leases Signed Throughout The Year.
Fashion, Footwear and Food & Beverage Brands Led Leasing Activity in All of the High Streets, with Food & Beverage Growing from 23 Percent to 32 Percent of Total New Lease Volume.
Positioned as a Luxury Shopping and Lifestyle Destination, Nişantaşı Attracted Both National and International Upscale Brands. It Also RANKED Second for Foreign Brand Presence, with International Retailers Accounting for 17 Percent of the Total Store Count.
Abdi Ipekci Compets with Global Luxury Streets
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Among All Streets, Abdi Ipekçi Avenue in Nişantaşı Commanded the Highest Rental Value, Maintaining Its Rent At $ 250 Per Square Meter, Surpassing Major Europe Shopping Streets Such As Those In Amsterdam
It was Followed by İstiklal Avenue at $ 220 and Baghdad Avenue At $ 150.
Despite Challenges SUCH AS LIMITED Space and High Rental Costs, The Report Predicts That New Supply Driven by Ongrying Urban Transformation Projects Projects Will Support Further Growth in Istanbul’s High-Street Retail Sector.
