The Wealth Bulletin (a Dow Jones site) has come up with a list of the 10 most expensive streets in the world. The survey revealed that the prices for the top homes in the best locations appear to have decoupled from the gloom and doom being felt in the wider property market.
If you want to live in the best accommodation in these streets you will need to be a billionaire, or not far behind !
Avenue Princess Grace in Monaco has been named at the top with a price tag of $190,000 per square metre. It is followed by Hong Kong’s Severn Road with a price of $121,000 per square metre (sq mt) at second and New York City’s Fifth Avenue at third place ($80,000 per sq mt).
Here is the complete list, with some sample property prices as tallied by Wealth Bulletin:
1. Avenue Princess Grace, Monaco — $17,750 per square foot – $190,000 per sq mt
Named after the iconic Hollywood star Grace Kelly, who was married to Rainier III, Prince of Monaco.
Forget buying a house there. Properties on the avenue change hands for up to $41m – and many of them are fairly modest four-bedroom apartments. And at that price you will get a view of the Mediterranean, but not much else
(Just getting a beer at Jimmy’s Bar on the Avenue will set you back more than $100)
2. Severn Road, Hong Kong — $11,200 per square foot - $121,000 per sq mt
Hong Kong’s Severn Road is located in the city’s most exclusive district, The Peak, at the top of Hong Kong Island. Some of the most spectacular urban views in the world, overlooking the city’s skyscrapers and across Hong Kong harbour to Kowloon.
3. Fifth Avenue, New York City — $7,500 per square foot – $80,000 per sq mt
Fifth Avenue has the most iconic status of all the streets on the list : it runs from Washington Square to Harlem and divides Manhattan’s East/West streets. It is representative of New York’s upper crust, having been rated as the most expensive shopping street in the world..
Often referred to as “Billionaires Row”. Houses on this street might sell for some of the highest prices in the world, but the more generous supply of space means you get more square metres for your money than in Monaco and Hong Kong
5. Avenue Montaigne, Paris — $5,046 per square foot – $54,000 per sq mt
6. Ostozhenka, Moscow — $3,738 per square foot – $40,000 per sq mt
7. Via Suvretta, St. Moritz — $3,551 per square foot – $38,000 per sq mt
8. Carolwood Drive, Beverly Hills — $2,803 per square foot – $30,000 per sq mt
9. Wolseley Road, Sydney — $2,616 per square foot – $28,000 per sq mt
10. Altamount Road, Mumbai — $2,336 per square foot – $25,000 per sq mt