July 27, 2009

The prices of some of the most expensive real estate in the world have nearly halved in some markets, as a result of the global economic downturn. Highly sought after locations in markets like Monaco and Hong Kong have seen prices fall off dramatically. For the updated list of the world’s most expensive real estate, see the full article from Property Wire.

World’s Most Expensive Real Estate

1. Avenue Princess Grace – Monaco ($120,000 a square foot)

2. Chemin de Saint-Hospice – Cap Ferrat, France ($100,000 per square foot)

3. Fifth Avenue – New York ($72,000 per square metre)

4. Kensington Palace Gardens – London England ($65,000 per square meter)

5. Avenue Montaigne – Paris ($54,000 per square meter)

6. Via Suvretta – St Mortiz, Switzerland( $45,000 per square meter)

7. Via Romazzino – Porto Cervo, Sardinia, Italy ($42,000 per square meter)

8. Severn Road – The Peak, Hong Kong ($40,000 per square meter)

9. Ostozhenka Street – Moscow ($35,000 per square metre)

10. Wolseley Road – Point Piper, Australia ($28,000 per square meter)

Read “World’s most expensive places hit by global financial downturn” in Property Wire (July 27, 2009).

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