The world's costlier real estate market is Land for Sale

The world's costlier real estate market is Land for Sale

Land for Sale

The world's most expensive Land for sale real estate market, according to a recent survey by the Global Property Guide, is Monte Carlo. Named "Mount Charles" after Prince Charles III of Monaco, Monte Carlo is a northern district in the city-state of Monaco and is home to the Opera de Monte-Carlo, the renowned Hotel de Paris and the greater portion of the Circuit de Monaco, where Formula One drivers race in the Monaco Grand Prix.

Real estate in this Land for sale of luxury cost an average of $47,578 per square meter, according to the Global Property Guide's 2009 report.

Monte Carlo was followed by Moscow, Russia at less than half that price$20,853 per square meterand London, England at $20,756 per square meter. New York City placed 6th on the list at $14,898 per square meter.

1. Monte Carlo, Monaco $47,578

2. Moscow, Russia $20,853

3. London, England $20,756

4. Tokyo, Japan $17,998

5. Hong Kong $16,125

6. New York, USA $14,898

7. Paris, France $12,122

8. Singapore $9,701

9. Rome, Italy $9,166

10. Mumbai, India $9,163

Despite everything you've heard about the housing market, the residents of these swanky streets aren't sweating it. That's because they live on the most expensive residential streets in the world. A recent survey by Wealth-Bulletin places the following five streets at the top of the list.

1. Avenue Princess Grace, Monaco $17,750 per square foot.

The world's most expensive Land for sale street was named after former Monacan princess and iconic black and white film actress Grace Kelly. Residents of Avenue Princess Grace can expect to meet Middle Eastern elites, Russian billionaires and members of the Monacan royal family. The price was set by a $41 million, four bedrooms home.

2. Severn Road, Hong Kong $11,200 per square foot.

Hong Kong's most expensive street lies on the top of Hong Kong Island in the city's most affluent district, The Peak. A $38 million apartment purchased by a Chinese businessman earned this street its place on the list. The street is named after a British colonial administrator, Claude Severn, who spent 1911-1925 as Colonial Secretary of Hong Kong.

3. Fifth Avenue, New York City $7,500 per square foot.

The third most expensive street in the world runs from Washington Square to Harlem and divides Manhattan's East/West streets. It is representative of New York's upper crust, having been rated as the most expensive shopping street in the world. In 2005, press baron Rupert Murdoch purchased one of the Plaza Apartments attached to Plaza Hotel for $44 million.

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