Milan's Via MonteNapoleone is now world's most upscale shopping street

MILAN, Italy: Milan's famed Via MonteNapoleone has overtaken New York's Fifth Avenue as the world's most exclusive shopping street, according to a new global ranking by real estate firm Cushman & Wakefield.

The annual index, which measures rent prices, shows the average cost on Via MonteNapoleone has surged to 20,000 euros per square meter (US$2,047 per square foot), slightly ahead of Fifth Avenue's 19,537 euros