March 12, 2011
The world’s most expensive street, according to a new list compiled by the Wall Street Journal, is Severn Road, Hong Kong, where prices per square metre top out at $78,200 (all figures USD).
Severn Road (that’s it above) is perched above Hong Kong’s business district and is reportedly comprised of fewer than 60 properties. But, as the WSJ points out, the real estate on the row is particularly vulnerable to volatility; in 2008, the financial crisis pushed prices down by 40 percent. Yikes.
Second and third on the list was London’s Kensington Palace Gardens ($76,000 per square metre) and Avenue Princesse Grace in Monaco ($70,000 per square metre).
Known as ‘Billionaire’s Row’, Kensington Palace Gardens is home to people like F1 mogul Bernie Ecclestone, who recently paid $62 million to move his daughter into the shack next door to him. For its part, Avenue Princesse Grace has recently regained much of the value it shed during the financial calamity of 2008.
Check out the full list by clicking here. And, please, tell us in the comments section what your guess would be as to Canada’s most expensive residential route.