Does the street make the property or the property the street, in your opinion?
Pollock’s Path, located in Hong Kong’s the Peak neighbourhood, was recently ranked as the world’s most expensive street on the basis of average price per square metre. The Peak is both a major tourist attraction and an exclusive residential area that was originally a colonial enclave for top British bureaucrats and businessmen.
With stunning views of Hong Kong Island and Victoria Harbour, Pollock’s Path has long been the plush ground of Hong Kong’s super-rich. Whilst prices here rival those on neighbouring Severn and Barker Road, new developments on this winding path have pushed up prices. Skyhigh, at 10-18 Pollock’s Path, developed by Hong Kong celebrity Stephen Chow, is one of the most prestigious developments on this street. Records were set in Hong Kong when in 2011, 10 Pollock’s Path sold for HK $800 million (US$103 million). Again in Honk Kong, Causeway Bay is the most expensive retail location in the Asia Pacific region.
Moving to Europe, Romanzzino Hill in Sardinia, the seventh most expensive street in the world. A number of wealthy residents have bought properties there, enjoying the Mediterranean sun from their lovely terraces.
Kensington Palace Gardens in London could not be absent from this list. Also in London, New Bond Street rental rates have been going up since 2015 and are now among the most expensive places, while Avenue Montaigne in Paris is the fanciest shopping avenue of Paris and in the top ten most expensive streets in the world. Avenue des Champs Elysees is also competing among the most pricey ones.
The private and idyllic Chemin de Ruth in Geneva’s picturesque suburbs, the stone street with large houses with swimming pools, landscaped gardens, and stunning views of the nearby Lake Geneva could not missing from this list either, while Via Montenapoleone in Milan, one of the most attractive high streets.
Followed by Avenue Princesse Grace in Monaco, Boulevard du Général de Gaulle in Cap Ferrat, France and Singapore’s Paterson Hill, a calm residential cul-de-sac close to the iconic Orchard Road Shopping Belt, known for its designer stores and Michelin-starred restaurants.
Moving to the US, New York’s Upper Fifth Avenue is considered, not surprisingly, the most expensive retail location in the world based on its prime rental value, according to a report from Cushman & Wakefield. Prime rentals on the street cost $3,500 per sqft each year.
In the heart of Downtown Dubai, lies the most famous street in the world, Sheikh Mohammed bin Rashid Boulevard. Not surprisingly, the most expensive neighbourhoods are in the Burj Khalifa area, followed by the Palm and DIFC.