Most Expensive Residential Neighbourhoods in the World

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We are talking about some of the most expensive neighbourhoods in the world. The streets of gold, as they call them, these are aristocratic avenues which are home to the crème-de-la-crème of the high society.

Location benefits play an important role in boosting the property prices of a neighbourhood, but only a select few have what it takes to throw their prices through the ceiling and skyrocket them all the way to the wish list of celebrities, business tycoons and nobles of the state.

Sounds interesting? Well then, today we bring to you some of the most expensive residential streets to own an address in. Make your wildest guess for the real estate prices in these uber-lavish localities, and be prepared for an astounding revelation:

MONACO
Photo Credit:  Salvatore.Freni/Flickr

Avenue Princess Grace in Monaco: By far the most expensive locality in the world, Avenue Princess Grace seems like a slice of heaven carefully placed along the coast of Monaco. This residential area is the epitome of luxury, and is home to a few zillionaires, along with some world famous celebrities and the Royal Monacan Family. Living in this swanky milieu would cost you nothing less than a bomb, with property prices soaring as high as Rs. 12 lakh per square feet.

KENSINGTON
Photo Credit: [Duncan]/Flickr

Kensington Palace Gardens in London: With a record sale of properties sold at prices of Rs. 800 crores and more, Kensington Palace Gardens easily finds its way up to the list of the most expensive neighbourhoods in the world. The price of properties in this premium locality is well above Rs. 4 lakh per square feet.

If you were to buy a home at Kensington Palace Gardens, you would find neighbours such as the Duke and Duchess of Cambridge. A well-known billionaire from India, Mr Lakshmi Mittal also owns a residence in this posh neighbourhood.

NEW YORK
Photo Credit:  David Jones/Flcikr

Fifth Avenue in New York: With an eclectic mix of the swankiest retail and residential spaces, Fifth Avenue at New York is the next big thing for ultra-premium real estate. Here, you will find some of the most expensive retail brands and some of the richest people in New York. Owning a piece of land at Fifth Avenue will set you back by more than 4 lakh rupees for every square feet that you acquire.

HONG KONG
Photo Credit: VasenkaPhotography/Flickr

Severn Road in Hong Kong: Deriving its name from a British bureaucrat who resided here as a secretary when Hong Kong was a British colony, Severn Road is the most expensive street in Hong Kong. Home to several business tycoons, Severn Road comes with a price tag of over Rs. 6 lakh per square feet.

Can’t afford a house in these lavish neighbourhoods? Fret not and find the property of your choice within your budget on PropTiger.com