Revealed: The World's Top Ten Most Expensive Streets
Hong Kong and London Residential Streets Among The Priciest On The Planet
LONDON, Nov. 20, 2013 /PRNewswire/ -- In the wake of a recession that knocked as much as 40 percent off the price tags of global prime property, the world's wealthiest individuals are buying homes on top streets for higher-than-ever prices, according to data from Knight Frank published by Billionaire, a sister company of Wealth-X, the world's leading ultra high net worth (UHNW) intelligence firm.
According to the recently released Wealth-X and UBS Billionaire Census 2013, the total real-estate holdings of the world's billionaires is estimated at US$169 billion, which equates to an average of US$78 million per billionaire. Billionaires own an average of four homes, many of which are based in trophy cities such as London, New York and Paris.
Below are the five most expensive streets in the world:
| Rank |
Address |
City/Country |
Average price per square metre |
| 1 |
Pollock's Path, The Peak |
Hong Kong |
US$120,000 (HK$930,670) |
| 2 |
Kensington Palace Gardens |
London |
US$107,000 (£69,900) |
| 3 |
Avenue Princesse Grace |
Monaco |
US$86,000 (€65,000) |
| 4 |
Blvd. du General de Gaulle |
Cap Ferrat, France |
US$79,000 (€60,000) |
| 5 |
Patterson Hill |
Singapore |
US$42,500 (SGD$53,800) |
"The highest echelons of society grew their assets by over 5 percent last year according to our research, and at this level of wealth there are few forced sales of real estate. The cachet of buying a trophy property on a famous street is clear. But annual price rises in many of these exclusive neighborhoods demonstrates that owners can increasingly afford to wait for an offer they can't refuse," said Tara Loader Wilkinson, editor-in-chief of Wealth-X and editor-at-large at Billionaire.
"The appeal of super-prime property has rarely been higher," said Liam Bailey, head of residential research at Knight Frank, "Rising demand for the best properties in the best locations has been set against tight demand, with limited new supply."
The streets were ranked on the basis of average price per square metre. Rises in price include currency fluctuations.
For full coverage, visit http://www.billionaire.com/ambience/622/good-neighbours-the-worlds-top-10-most-exclusive-streets
Download the Wealth-X and UBS Billionaire Census 2013 at www.billionairecensus.com
About Wealth-X
Wealth-X is the definitive source of intelligence on the ultra wealthy with the world's largest collection of curated research on ultra high net worth (UHNW) individuals, defined as those with net assets of US$30 million and above. Headquartered in Singapore, it has 12 offices in five continents. (www.wealthx.com)
SOURCE Wealth-X
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