Whether it’s pure white, sandy beaches, spectacular views over sparkling waves and breathtaking mountains, designer boutiques, upmarket shopping or luxury dining, these streets have it all. Home to the world’s most affluent people, the abodes on these avenues have some of the most stylish interiors, chicest exteriors and most expensive shops on the planet. But why do people want to spend so much money to live on them?
Societies have always been attracted by the allure and glamour of wealth, and there’s no better way to show off your opulence than to don a diamond earring and take up residence on a Billionaire’s Row near you. This isn’t a new phenomenon – some of these streets have been favored haunts for the rich and famous to live in excess and extravagance for hundreds of years.
The calculations for the expense of streets on this list are based on the average price per square metre of land. To put these prices into perspective, the average price in downtown Miami is $26.5 per m2, while the most expensive street in the world is at $120,000 for the same amount of land. Of course, along with the huge price tag, the homes on these streets still come with numerous bedrooms, swimming pools, tennis courts, and of course, places for private helicopters and yachts. You might be able to afford to shop or live on one of these streets, or perhaps you’d at least be able to spring for a hotel stay on one of these incredibly lavish streets. Read on to find out just how expensive are the most expensive streets in the world.
10. Avenue Montaigne, Paris: $26,000 / m2
Situated in Paris’s Champs-Élysées quarter, Avenue Montaigne has a reputation for affluence. This Parisian street first earned a reputation for luxury in the 19th century following the infamous Balls at the Mabille. Nowadays, it is one of the world’s most thriving centres of fashion; Dior, Chanel, Louis Vuitton and Ralph Lauren all have stores here. However, for some, the high life comes at a huge price – such as the robbery of the jeweller’s Harry Winston on the street in 2008, when $108million worth of jewels were seized. Even after such a high profile crime, the average cost per square metre of land remains a whopping $26,000.
9. Fifth Avenue, New York: $28,000 / m2
Fifth Avenue, in Manhattan, New York, has consistently been ranked as one of the most expensive streets in the world over recent years. Between the 49th and the 59th street countless designer boutiques can be found, such as Saks Fifth Avenue, Bergdorf-Goodman, Louis Vuitton and Prada, and jewellers like Bulgari and Tiffany and Company. The street’s Museum Mile, which faces onto Central Park, has some of the most opulent mansions in all of New York City. Many of these former residences have now become museums – chiefly housing The Met and the Guggenheim. The street is also home to the Rockefeller Center and the Empire State Building, but at an average price per square metre of $28,000 buying a plot of land there might be hard to come by.
8. Ostozhenka, Moscow: $29,000 / m2
Relatively unassuming when compared to the previous two iconic streets, and known as Moscow’s “Golden Mile”, since the 1990’s Ostozhenka has become a flurry of activity, with modern midrise apartments and offices being constructed all along the street. However, the street is also home to some of Moscow’s finest examples of Art-Nouveau and neoclassical architecture, and the superb Cathedral of Christ the Saviour lies just at the end of the street. With its plethora of salons, boutiques, and homes for Russia’s elite, it’s no wonder that this historic street has an average price per square metre of $29,000.
7. Romazzino Hill, Sardinia: $32,900 / m2
Romazzino Hill and the surrounding area has been a hotspot for real-estate since 1961, when development of the area was spearheaded by a consortium of companies led by British business magnate, Aga Khan IV. However, the site first made big headlines in 2012 when the Italian multi-millionaire Carlo de Benedetti sold his seaside Villa Rocky Ram for $110 million. Countless celebrities and businessmen and women have been drawn here for the luxurious hotels – such as the Cala di Volpe and the Romazzino – as well as the white sandy beaches and exclusive yacht clubs. This coastal paradise currently has an average price per square metre of $32,900.
6. Chemin de Ruth, Geneva: $37,000 / m2
With stunning views over Lake Geneva and the Swiss Alps, and a high standard of living, it is easy to see why property prices on the Chemin de Ruth are so high – $37,000 per square metre, to be precise. Many of the mansions on this street in Cologny, near Geneva, have landscaped gardens, enormous swimming pools, and beautifully designed architectural façades. Five properties on this street sold for more than $13.1million between 2008 and 2010, while the record price for a house on this street was $36million.
5. Paterson Hill, Singapore: $42,500 / m2
This peaceful residential cul-de-sac is known as Singapore’s “Billionaire Row”, and has seen its property prices soar over the last year in part due to currency fluctuations. Located in the esteemed District 09, Paterson Hill is near the Orchard Road shopping belt, an area filled with designer boutiques and Michelin-starred restaurants. The most expensive condominium on this street is the stylish and elegant Marq, which has a private pool overlooking the city for each individual apartment as well as plush interiors designed by Hermès. Facebook co-founder Eduardo Saverin lives here, so it comes as no surprise to find that the average price per square metre is $42,500.
4. Boulevard du Général de Gaulle, Cap Ferrat, France: $79,000 / m2
Cap Ferrat is the most expensive non-urban location in the world, with prices per square metre averaging an eye-watering $79,000. Located along the idyllic Côte d’Azur, Cap Ferrat was once the domain of King Leopold II of Belgium, but is now marked by many magnificent villas and hotels, such as the stunning Grand-Hôtel du Cap-Ferrat . The Boulevard du Général de Gaulle in particular has some of the most expensive prices, with its panoramic views over the Mediterranean. The area has long been a hunting ground for the rich and famous; Brad Pitt and Angelina Jolie have a residence here, as does Microsoft co-founder Paul Allen.
3. Avenue Princesse Grace, Monaco: $86,000 / m2
Monaco, home to the F1 Grand Prix and its own boat show, is a playground for Europe’s elite. Property prices are at a premium on the Avenue Princess Grace which straddles the seafront, due to its stunning location and limited space. At their height, prices reached a colossal $135,000 per square metre here; even still, nowadays they are the third highest in the world at $86,000. Andrea Bocelli, Roger Moore, Lewis Hamilton, and Helena Christensen all have residences here.
2. Kensington Palace Gardens, London: $107,000 / m2
This plush tree-lined avenue is often regarded as London’s most exclusive address, and with Will and Kate, the Duke and Duchess of Cambridge living here (along with baby George), it’s not hard to imagine why. Prices on this street are, on average, in excess of $107,000 per square metre. Many embassies are located here, as well as the homes of Indian steel tycoon Lakshmi Mittal, once the sixth richest man in the world, and Russian oligarch Roman Abramovich.
1. Pollock’s Path, The Peak, Hong Kong: $120,000 / m2
The most expensive street in the world – with panoramic views over Victoria Harbour, Hong Kong Island and the city’s skyline – has long been a stomping ground for the rich, ever since the affluent were hoisted up and down the mountain in sedan chairs. Stylish new developments have hiked prices sky high on this street in recent years, and in 2011, records were broken for all of Hong Kong when apartment no.10 sold for $103million. Those trends look likely to continue as new development in Hong Kong becomes even more difficult due to the limited amount of available land, and so the prices could well rise above even the huge average price per square metre of $120,000.