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The Top Ten most expensive streets in the world!

publication date: Jul 27, 2009
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Avenue Princesse Grace is the most expensive street in the world to buy property, where $120,000 (€84,985) will purchase just one square metre of prime real estate, according to a survey by Wealth Bulletin. Prime residential property on the top 10 most expensive streets in the world saw their overall value fall by 12% in the last year, the survey found, with European streets faring better than their US and emerging markets counterparts. That compares with price falls of between 20% to 30% in mainstream property prices in London and New York over the same period.

The addresses that are streets ahead
• Avenue Princesse Grace, Monaco, $120,000 per sq/m. Still the most expensive street in the world; at least $120,000 per sq/m on the iconic Avenue for a modest apartment with one of the most spectacular views in the world.
But that looks like a bargain from a year ago, when top end residential properties on the street were $190,000 per sq/m. A 334 sq/m four-bedroom penthouse on Avenue Princesse Grace is on the market at $50m – around $149,000 per sq/m – not including a 220 sq/m terrace.

• Chemin de Saint-Hospice, Cap Ferrat, South of France, $100,000 per sq/m. Less than 30 miles down the road from Avenue Princesse Grace, Chemin de Saint-Hospice is the second most expensive street in the world, where the top properties sell for $100,000 per sq/m. It snakes through Cap Ferrat with its 15 houses commanding beautiful Mediterranean views.

• Fifth Avenue, New York, $72,000 per sq/m. Fifth Avenue has the most iconic status of all the streets on the list and retains third place this year. But prices on the best parts have come off the boil in the past 12 months. A 400 sq/m apartment with terraces overlooking Central Park on the Upper East Side of Fifth Avenue sold for $29m in June.
• Kensington Palace Gardens, London, $65,000 per sq/m. The private road that abuts Kensington Palace and houses several embassies, including the Russian delegation, is still the fourth most expensive street in the world. Prices on KPG, as estate agents call it, have come off no more than 15% to 20%.

• Avenue Montaigne, Paris, $54,000 per sq/m. Located in the 8th arrondisement – which includes the Élysée Palace, official residence of President Nicolas Sarkozy, Montaigne maintains its fifth place on Wealth Bulletin’s list, proving the eternal allure of Paris among the world’s wealthiest.

• Via Suvretta, St Moritz, Switzerland, $45,000 per sq/m. The winding Via Suvretta in the exclusive ski resort of St Mortiz gets promoted to sixth place in this year’s survey and is the only street that saw prices rise by 18%. Expect to pay at least $45,000 per sq/m for a top-end property.

• Via Romazzino, Porto Cervo, Sardinia,$42,000 per sq/m. Via Romazzino makes this year’s list for the first time. Top prices on Italy’s most expensive street, in the exclusive resort of Porto Cervo, are at least $42,000 per sq/m.

• Severn Road, The Peak, Hong Kong, $40,000 per sq/m. The Hong Kong residential property market is among the most volatile in the world – just how volatile was illustrated by the big falls, number two on last year’s list, with prices of $121,000 per sq/m, Severn Road has plummeted to $40,000 per sq/m.

• Ostozhenka Street, Moscow, $35,000 per sq/m. Ostozhenka Street falls to ninth position, down from sixth place last year. Local estate agents say top properties on the street will achieve at least $35,000 a sq/m, but that’s down by

• Wolseley Road, Point Piper, Australia, $28,000 per sq/m. Properties on Wolseley Road have maintained their value, due to the robustness of the Australian economy and the strength of the local currency. Local agents believe prices for the best properties remain high, but say the market has been affected by the lack of supply.