Believe it or not, houses aren’t the only pieces of real estate that have value. Even celebrities aren’t the only expensive commodities that add value to a location. The lavish views, the beautiful weather, the population, the up keep of the street, the neighborhood’s proximity to shopping, dining, and entertainment, all of these factors put a value on a street, no matter how big or small it may be. All over the world, some of the most famous streets gained their value through different means whether it is historical value, or prime real estate for businesses to set up shop. Wealth-X recently put together a list of the streets that are the most expensive around the world, and the results may surprise you. It won’t be a shock to see that A-list Hollywood celebrities will be connected to some of these streets, as well as notable figures that are known worldwide such as the Royal Family.
How exactly can a street be evaluated in terms of value and worth? Between celebrity sightings, the reputation of businesses who rent out space, and the real estate market for residential properties on the street, these are just a few of the many reasons why a street is more expensive than another. Some of these streets hold exotic beauty that are reminiscent of the past, or a kind of beauty that only modern technology and innovation can bestow upon us. These streets also have the astonishing power of attracting some of the wealthiest people in the world, as well as tourists who want to be a part of the environment, even if temporarily. Here is a comprehensive list of the most costly and valuable street names in the world and perhaps can be put on your list of places to visit should you ever travel to any of these destinations.
10. Avenue Montaigne – Paris, France ($26,000 per square meter)
Nestled in the Champs Elysee quarter in Paris, Avenue Montaigne costs an average of $26,000 per square meter. In the early 18th century, it was known as the allée des Veuves, also known as the “widows’ alley” where wives who were in mourning would gather together. However, much has changed since the 18th century and the street was named after French Renaissance writer, Michel de Montaigne. Today, Avenue Montaigne hosts some of the finest shops in the world such as Louis Vuitton, Fendi, Dior, Chanel, just to name a few. Some of the finest real estate also is located on this street, as well as the Canadian Embassy.
9. Fifth Avenue – New York, NY ($28,000 per square meter)
New York City is home to some of the most prominent billionaires in the world, and Fifth Avenue is right in the center of the borough of Manhattan. The average price of $28,000 per square meter and is home to celebrities such as Bill Murray. Homes that face Central Park are most popular and the most expensive. With famous buildings such as Saks Fifth Avenue, Rockefeller Center, Empire State Building, and numerous designer fashion boutiques that call Fifth Avenue home, there is no doubt as to why this famous street has made the list.
8. Ostozhenka – Moscow, Russia ($29,000 per square meter)
If you want to visit a place that is custom in Muscovite culture, Ostozhenka is the place to go. Rich in history with a large variety of fine food and luxurious living Ostozhenka is valued at around $29,000 per square meter. Ostozhenka is located in downtown Moscow and is home to Russian oligarch Alishar Usmanov. The street also hosts buildings that were created in Art-Nouveau design, historical landmarks, the Pushkin Museum, The Kremlin, and the Cathedral of Christ the Savior.
7. Romazzino Hill – Sardinia ($32,900 per square meter)
With an average price of $32,900 per square meter, Romazzino Hill hosts some of the most luxurious tourist destinations in Italy with its breathtaking views of sandy ocean beaches and beautiful weather. Highly regarded in beauty and climate, this street has been a popular spot for vacationing and living. Since the 1960’s Romazzino Hill has been a playground and residence for some of the world’s most prominent billionaires, celebrities, and politicians such as Ahmed Zaki Yamani, steel tycoon Alexey Mordashov, and members of the Qatar royal family.
6. Chemin de Ruth – Geneva, Switzerland ($37,000 per square meter)
Picture this in your mind: stunning and breathtaking views of beautiful Lake Geneva, the famous Jet d’Eau, the World Economic Forum, and the United Nations, this is just a hint of the beauty and prime location that Chemin de Ruth features. With an average cost of $37,000 per square meter, this costly street hosts numerous upscale mansions with perfected landscapes, and refreshing swimming pools. Famous residents include sports celebrities such as Henri Leconte and Jean-Claude Killy, as well as France’s Peugeot family.
5. Paterson Hill – Singapore ($42,500 per square meter)
Also known as “Billionaire’s Row”, Paterson Hill is known as a pleasant cul-de-sac in Singapore that provides residence for Eduardo Saverin, the co-founder of Facebook who recently made headlines when he publicly renounced his United States citizenship. Paterson Hill also is home to the Marq, which is known as being the most extravagant buildings. Valued at an average of $42,500 per square meter and nearby to shopping belt known as Orchard Road and Michelin-starred restaurants, Paterson Hill shows to be the prime real estate for many billionaires to call home.
4. Boulevard du General de Gaulle – Cap Ferrat, France ($79,000 per square meter)
This international street has caught the attention of billionaires and celebrities worldwide. Boulevard du General de Gaulle is home to notable residents that once included Charlie Chaplin, but not has residents like Angelina Jolie, and Brad Pitt. This street is regarded as an extremely valued piece of land along the Mediterranean Côte d’Azur and expensive locations that are non-urban and tucked away in the Cap Ferrat peninsula. With beautiful beachfront villas and spectacular views, Boulevard du General de Gaulle averages about $79,000 per square meter.
3. Avenue Princesse Grace – Monaco ($86,000 per square meter)
Running along the beautiful waters of Monaco, Avenue Princess Grace is no stranger to the wealthy and is known as one of the more exclusive streets in Monaco. Even though the tourist location fills up to capacity every May for F1 Grand Prix and the annual Monaco Boat Show, this expensive street is home to many billionaires and celebrities. Valued at $86,000 average per square meter, Avenue Princesse Grace is home to the famous singer Andrea Bocelli, Helena Christensen, and Roger Moore.
2. Kensington Palace Gardens – London, England ($107,000 per square meter)
With some of the most famous residents being the future kings and queens of England, William, Kate, and George, this tree-lined avenue also hosts the locations of the embassies of Japan, France, and Russia. Kensington Palace Gardens is a historically-rich neighborhood in London, being the former location of the London Cage during World War II and the Cold War. This expensive street runs about $107,000 per square meter, which is rumored to have jumped in value since a portion of the royal family moved in.
1. Pollock’s Path – Hong Kong ($120,000 per square meter)
With an average price of $120,000 per square meter, Pollock’s Path is number one on the list of most costly avenues in the world. Located at the tip-top of a mountain with stunning views of Hong Kong Island, Pollock’s Path is called home by “Shaolin Soccer” star, Stephen Chow, as well as some of Hong Kong’s wealthiest citizens including the executives of HSBC. Regarded as a highly sought-after luxurious location in Hong Kong, this expensive street has not suffered from any economic pitfalls and is thriving more than ever before and continues to rise in price.
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