Thursday, March 17, 2011

The World’s Richest Street: Hong Kong’s Severn Road

Hong Kong’s Severn Road, a winding street of mansions and tony apartments, is still the priciest address on the planet.
For the second year running,Financial News, a  London-based sister publication of The Wall Street Journal, has determined that properties on Severn Road cost more per square foot than those anywhere else.
The financial publication surveyed real-estate agents around the world to compile its list of the 10 most-expensive streets. Properties on Severn Road were valued at US$78,200 a square meter (about US$8,689 a square foot), up from US$70,000 in last year’s survey. (In 2009, Severn Road was in eighth place on the list, prices having taken a 40% dive at the start of the global economic downturn.)

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