One of the most booming economies in Asia, Hong Kong, has proven to be a highly lucrative venue for international corporations and in lieu of its significantly rising importance as well as reputation, the Severn street in Hong Kong, has now secured its place as the world’s most expensive street, second time in a row. This new estimation has been brought forward by one of the most reputed financial journal in the industry, Financial News. The throne of the world’s most expensive street was bestowed upon Severn, after completing a survey that included real estate agents from all over the globe as respondents.
The Severn Street in Hong Kong, offers properties at a whopping $78,200 a square meter, that amounts to $8,689 a square foot. Severn Street’s property prices have seen a dramatic increase in the last 12 months, when back in year 2010, the properties at this highly prestigious location were evaluated at $70,000 a square meter. Severn Street has been named after the former colonial governor of the region, Claude Severn and is located near the top of Victoria Peak, offering breathtaking view of Honk Kong’s skyline. As per the survey, some of the other regions in the world that came into the Top Ten list are Fifth Avenue in New York, Kensington Palace Gardens in London and Avenue Princesse Grace in Monaco.