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Ten Most Expensive Neighborhoods Around the World

May 4, 2016

Pollock’s Path, Hong Kong

Pollock’s Path on the Peak in Hong Kong is the world’s most expensive neighborhood. The average price of realty here is USD 120,000 per square meter. Breathtaking views of the Victoria Harbor and plush ultra-luxurious apartments make this one of the most sought after residential locales. Originally home to the colonial British bureaucrats, Pollock’s Peak is now full of top businessmen and industrialists from Hong Kong. Actor director Stephen Chow and some of HSBC’s top names live in the neighborhood. Over the past few years, a number of apartments on the path have sold for about HKD 740 million (about USD 95 million)

Kensington Palace Gardens, London

This place became famous ever since the Duke and Duchess of Cambridge moved into the neighborhood. The new Prince George and Princess Charlotte are now the stars of the Kensington Palace Gardens. The average price per square metre in this area is about USD 107,000. Indian steel tycoon Lakshmi Mittal and other industrialists are among the famous residents in this elite neighborhood. The Japanese and Chinese embassies are also located in the Kensington Palace Gardens.

Avenue Princesse Grace, Monaco

The Avenue Princess Grace of Monaco, which was once the most expensive street in the world, has now moved to third position. It is still home to exclusive residences with each square meter of realty selling for about USD 86,000. The iconic avenue is lined with seafront properties. A spate of development work over the past few years has hiked up demand for an address here. The apartments, here, are now available only for rent. Among the famous personalities who live here, Andrea Bocelli, Lewis Hamilton, Roger Moore, and Helena Christensen are well-known.

Boulevard du General de Gaulle, Cap Ferrat

Before his death, Charlie Chaplin bought an exclusive property in the Boulevard du General de Gaulle making this one of the best known residential neighborhoods along the Mediterranean coasts of France. Later, other celebrities such as Brad Pitt and Angelina Jolie and Paul Allen bought residences here. The cost of realty here is about USD 79,000 a square meter. The sunny stretch along Mediterranean Cote d’Azur in Cap Ferrat is a famous holiday retreat for the rich and famous from across the globe.

Paterson Hill, Singapore

If you are looking for the swankiest, the most expensive and exclusive addresses in Singapore, Paterson Hill has to be it. According to reports, property here sells at about USD 42,500 a square meter. The 300 -m street may be one of the shortest in town but the presence of fancy apartments, such as Marq (with interiors designed by Hermes), has certainly made this neighborhood exclusive. Paterson Hill, referred to as Billionaire’s Row, is home to former Miss Singaporean beauty queen, Rachel Kum, and the co-founder of Facebook, Eduardo Saverin.

Romazzino Hill, Sardinia

The long sandy beaches, the rugged landscape, and the mysterious heritage make Sardinia a hit with tourists from across the world. These are exactly what make the Romazzino Hill neighborhood one of the most expensive residential locales. Back in the 1960s, the Aga Khan made Sardinia his holiday retreat, and ever since, many billionaires have acquired property in Romazzino. A square meter of realty here is likely to cost about USD 39,000. In 2012, the Italian business magnate Carlo de Benedetti is believed to have sold his Romazzino Villa for USD 148 million.

Chemin de Ruth, Geneva

Switzerland is certainly one of the most expensive countries of Europe, if not the world. But Chemin de Ruth, overlooking Lake Geneva, is certainly the priciest locale in the country. Apart from the United Nations building, the Chemin du Ruth is home to some rich and famous such as the Peugeot family, and former tennis star Henri Leconte. According to estimates, a square meter of realty here is likely to cost about USD 37,000. Most of the mansions on this street are large and sprawling and come with their own landscaped gardens and swimming pools.

Ostozhenka, Moscow

Not for nothing has Ostozhenka been called Moscow’s Golden Mile. This stretch, between Kropotkinskaya metro station and the Park Kultury metro, is home to some of the wealthiest in Russia. Apart from the Pushkin Museum, Leo Tolstoy Estate, and Cathedral of Christ the Saviour, it is home to some of the most stunning architectural beauties and high-end dining options in Russia. Realty here is likely to set you back by about USD 29,000 a square meter. Russian business tycoon Alisher Usmanov lives in this elite neighborhood. The most expensive apartment sold on the street went for about USD 48 million.

Fifth Avenue, New York

Fifth Avenue, stretching right through the heart of Manhattan, is one of the most expensive and famous addresses in the world. Better known for its expensive shopping options and fashion stores, the stretch, which overlooks the lush green parts of Central Park, is home to some of the richest in town. The average cost of realty between the 59th and 96th is pegged at about USD 28,000 a square metre. Actor Bill Murray and television star Tom Brokaw are among the celebrities who live here.

Avenue Montaigne, Paris

Champs Elysees in Paris is best known for its couture fashion boutiques and high-end shopping options. Avenue Montaigne, located in the 8th arrondissement of the French capital, is part of the Champs Elysees quarter. The average price of realty here is pegged at about USD 26,000 per square meter. Apart from Louis Vuitton, Christian Dior, Ralph Lauren, and Valentino signature stores, the Canadian Embassy is also located here. Actress Marlene Dietrich was among the celebrities who lived in this locality. The avenue is about 350 years old and is steeped in cultural affluence.Most-Expensive-Neighborhoods_12

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An Indian. Born a princess, now a storyteller. A gypsy at heart, rebel by nature, TamBrahm by nurture. Quintessential wine woman. An empath. A fauji biwi.