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Tuesday, October 27, 2009 

The World's Most Expensive Streets in 2009

Wealth Bulletin has just released its annual list about the World’s most expensive streets in 2009. At the top of the list appears Avenue Princess Grace in Monaco, where the best properties with spectacular views of the city/Mediterranean change hands for around $120,000 per square metre. And surprise of surprise was the fact that the crisis also had a strong impact here, with the prices of residential properties dropping from $190,000 per sq/m to $120,000, in terms of percentage was definitely a huge drop. Local estate agents say the global recession has hit Monaco property hard and demand for top properties has fallen sharply since last year, but they still thinking that probably the worst may be over and the prices will start rising again. Avenue Princess Grace is a mingling spot for billionaires from all over the world who want breathtaking views of the Mediterranean Sea.

2 - Severn Road, Hong Kong $121,000 sq/m

Located in Victoria Peak, with an extraordinary view over the port, this street is elected as the residence of Chinese billionaires to rest. Property prices in the city have always been volatile, but the recent booming in the China's economy and by the mere fact of being near to the biggest concentration of manufacturing activity in the world in the Pearl River Delta, have pushed the prices of houses to numbers never seen before.

3 - Fifth Avenue, New York City $80,000 per sq/m

It is on the famous 5th avenue, there are historic mansions and elegant apartments which inhabit some of the world's most famous characters. An apartment with 3 room and overlook Central Park, could cost 15 million of dollars...

4 - Kensington Palace Gardens, London $77,000 per sq/m

The most distinctive place in London is situated on this street. Some real estate agencies have a waiting list of more than 20 people, mostly Russians and Indians, awaiting an opportunity to buy a house there.

5 - Avenue Montaigne, Paris $54,000 per sq/m

The paradise of the haute couture shops and the best perfume from Paris. A simple apartment , with only 1 room, can cost 5.6 million dollars.

6 - Ostozhenka, Moscow $40,000 per sq/m

Ostozhenka is a high-status area in Moscow where a great deal of high class accommodation has been built in the past few years. Classical buildings overlooking the Kremlin and the Cathedral of Christ the Saviour, where the price of a home rose 50% during the past year. Place of residence of many Russian oiltycons.

7- Via Suvretta, St Moritz $38,000 per sq/m

Place where the Italian Prime Minister, Silvio Berlusconi, has a home. Saint Moritz is a paradise situated in the Swiss Alps.

What do you think? These are values totally acceptable to all, or not ?



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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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