Hong Kong has the most expensive street on the planet. A Financial News survey found that Severn Road in Hong Kong's most salubrious district, The Peak, has the world's most priciest homes, averaging USD70,000 per square meter, a whopping 74 per cent rise on this time last year.
The Hong Kong address has knocked last year's top location, Monaco's Avenue Princesse Grace, down into fourth place. Homes cost USD64,000 per square meter on the Monaco street, half what they were twelve months ago.
The principality is one of the biggest victims of a downturn in the international market for billionaire homes - values have dropped 15 per cent globally. Exceptions to the rule have been London and New York where prices have risen 15 per cent. This has helped London's Kensington Gardens and New York's Fifth Avenue move into joint second place with sales prices on both streets averaging USD65,000 per square meter.
http://globalpropertynews.blogspot.com
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