In the wake of a recession that knocked as much as 40 percent off the price tags of global prime property, the world’s wealthiest individuals are buying homes on top streets for higher-than-ever prices, according to data from Knight Frank.
According to the recently released Wealth-X and UBS Billionaire Census 2013, the total real-estate holdings of the world’s billionaires is estimated at US$169 billion, which equates to an average of US$78 million per billionaire. Billionaires own an average of four homes, many of which are based in trophy cities such as London, New York and Paris.
Below are the five most expensive streets in the world:
|Rank||Address||City/Country||Average price per square metre|
|1||Pollock’s Path, The Peak||Hong Kong||US$120,000 (HK$930,670)|
|2||Kensington Palace Gardens||London||US$107,000 (£69,900)|
|3||Avenue Princesse Grace||Monaco||US$86,000 (€65,000)|
|4||Blvd. du General de Gaulle||Cap Ferrat, France||US$79,000 (€60,000)|
|5||Patterson Hill||Singapore||US$42,500 (SGD$53,800)|
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