Streets paved with gold - TheMoveChannel.com

(EMAILWIRE.COM, July 27, 2009 ) Ever wondered which streets are really paved with gold - well, now a new survey conducted by UK-based news and wealth analysis provider Wealth-Bulletin can tell you - it has put together a list of the world's ten most expensive residential streets - and Avenue Princesse Grace in Monaco is the top of the props...

Just one measly square metre of space on the prestigious Avenue Princesse Grace in the tax-haven of Monaco will set you back a whopping Â£73,000.

Properties on the avenue, which is named after the iconic Hollywood star Grace Kelly, who was married to to Rainier III, Prince of Monaco, change hands for up to Â£25 million Â– and many of them are fairly modest four-bedroom apartments.

You will get a view of the Mediterranean though and a bolt hole in possibly the most exclusive enclave in the world. If youÂ’re paying that amount for an apartment, youÂ’ll probably be mixing with some of the Monaco regulars like most of the wealthiest elites from the Middle East that visit the principality at least once a year, a smattering of Russian billionaires and, of course, the glamorous Monaco royal family.

Prices of properties on this street have not escaped the wrath of the credit crunch, which values plummeting by as much as 12 per cent over the last year, but the super rich are starting to flock back in, boosting prices skywards once more.

If you can't quite stretch to Monaco levels, how about a home on the world's second most expensive street - Chemin de Saint-Hospice, in Cap Ferrat in the South of France. Here, a square metre of prime real estate in one of the 15 luxury houses will only set you back a mere Â£60,000.

Another bonus is that the street is only a stones throw - well, 30 miles to be precise - away from the number one Avenue Princesse Grace, so you can rest assured your neighbours will be rather well-heeled too.

Across the pond in New York, the famous Fifth Avenue would cost you Â£43,000 per square metre. Fifth Avenue has the most iconic status of all the streets on the list. The Avenue stretches from Washington Square in lower Manhattan, all the way up to Harlem, but the residential properties in the Upper East Side of the Avenue that attract the sky-high prices. Some apartments are likely to sell for as much as Â£36 million at exclusive addresses like Plaza Apartments, linked to the famous Plaza Hotel, and 834 Fifth Avenue, where the press baron Rupert Murdoch bought an apartment for Â£26 million in 2005.

Other streets paved with gold include Kensington Palace Gardens in London and Avenue Montaigne in Paris, which is close to the Ã‰lysÃ©e Palace, official residence of President Nicolas Sarkozy.

For more information on international property and the market in general, please visit http://www.themovechannel.com/

-ENDS-

Notes to editors:

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For further information as well as images and interview possibilities, please contact:

Dan Johnson
Managing Director
www.themovechannel.com
0207 952 7650

TheMoveChannel.com
Dan Johnson
020 7952 7650
dj@themovechannel.com