Hong Kong’s Severn Road, a winding street of mansions and tony apartments, is still the priciest address on the planet.

For the second year running, Financial News has determined that properties on Severn Road cost more per square foot than those anywhere else.

Properties on Severn Road were valued at US$78,200 a square meter (about US$8,689 a square foot), up from US$70,000 in last year’s survey.

Luxury watch maker TAG Heuer has unveiled a special re-release of one of their vintage models, the Monaco Vintage Chronograph.

Originally released in 1973, the model comes on the heels of a 40th anniversary Monaco model.

According to Calibre11.com, the Monaco Vintage is “basically a grey version of the 40th Anniversary Monaco released last year, with two important differences.

Firstly, the case of the Monaco Vintage is finished in a subtle charcoal stainless steel and secondly, the Monaco Vintage will sell for almost half the price.”

A penthouse flat in Monaco has been sold for €240M (US$304) in one of the most expensive residential property sales to date.

La Belle Epoque, a property occupied by Christian and his brother Nick Candy, has been bought by an unnamed Middle Eastern investor.

Each suite in the penthouse, the top two floors of a block of flats, has its own cinema, kitchen, dressing room and two bathrooms, and it has a spa, library and gardens.

Prince Albert II of Monaco, long one of Europe’s most eligible bachelors, on Wednesday finally announced a long-awaited engagement to South African champion swimmer Charlene Wittstock.

A brief statement from the palace in the 52-year-old’s tiny Mediterranean statelet confirmed the engagement, but did not put a date on the eventual wedding, which courtiers will be hoping might produce a legitimate heir.

Prince Albert is the son of deceased Prince Rainier III and the late Hollywood actress Grace Kelly and has ruled Monaco, where he is broadly well-liked by his 8,000 subjects, since succeeding his father in July 2005.

From 9 to 13 July 2010, the Dining Event company, which specializes in culinary events will install their extraordinary ‘pop-up’ restaurant in Monaco.

Suspended a hundred feet above the bay of Monaco, fifteen separate dinners will be served during the week by the greatest European chefs.

Joël Robuchon (Hôtel Métropole – Monaco), Marcel Ravin (Hôtel Monte-Carlo – Monaco), Christian Sinicropi (Hôtel Martinez – Cannes).

Gucci has launched a new limited edition collection, available only at the flagship stores of Capri, Monaco and Cannes, strategic locations for tourism and international shopping.

This collection is characterized by three distinct colors, which draw inspiration from their corresponding city: Capri Green for Capri, Sporting Red for Monte Carlo and Lilac for Cannes.