Singapore’s Paterson Hill ranks fifth costliest street in the world

Average price is $53,800 per sq m.

According to Billionaire.com, real estate on the world’s most prestigious streets proves to be in demand despite economic uncertainty and unstable property markets elsewhere. The findings based on data provided by Knight Frank, the world’s leading real estate consultancy, proves that property in the most desirable corners of the globe, including the iconic Avenue Princesse Grace in Monaco and New York’s Fifth Avenue, is still changing hands for high price tags. The value of the world’s wealthiest homes continues to rise despite the fact that global prime property registered falls of up to 40% from peak to trough of the Global Financial Crisis.

"This data proves beyond doubt the ongoing appetite for investment in tangible bricks-and-mortar assets amongst the world's ultra-wealthy," said Christian Barker, CEO and editor-in-chief of Billionaire.com. "Although mainstream property prices have taken a hit from the downturn, values on the ‘Billionaire's Rows’ of the world are just as buoyant as ever. At this level, forced sales are almost non-existent and the best properties rarely come to market - making them exceedingly desirable for the few who can afford them."

“The appeal of super-prime property has rarely been higher,” said Liam Bailey, head of residential research at Knight Frank. “Rising demand for the best properties in the best locations has been set against tight demand, with limited new supply and discretionary owners who seldom feel compelled to sell.”

Sister company and intelligence provider Wealth-X also revealed the total real-estate holdings of the world’s billionaires is estimated at US$169 billion, or an average of US$78 million per billionaire.

The top 10 most expensive streets in the world:

1. Pollock’s Path, The Peak, Hong Kong
Average price per square metre: US$120,000 (HK$930,670)
Price change year on year: +10%

2. Kensington Palace Gardens, London, UK
Average price per square metre: US$107,000 (£69,900)
Price change year on year: +2%

3. Avenue Princesse Grace, Monaco
Average price per square metre: US$86,000 (€65,000)
Price change year on year: +5%

4. Boulevard du Général de Gaulle, Cap Ferrat, France
Average price per square metre: US$79,000 (€60,000)
Price change year on year: -5%

5. Paterson Hill, Singapore
Average price per square metre: US$42,500 (SGD$53,800)
Price change year on year: +6.5%

6. Chemin de Ruth, Geneva, Switzerland
Average price per square metre: US$37,000 (CHF 30,000)
Price change year on year: -5%

7. Romazzino Hill, Sardinia
Average price per square metre: US$32,900 (€25,000)
Price change year on year: stable

8. Ostozhenka, Moscow, Russia
Average price per square metre: US$29,000
Price change year on year: +3.6%

9. Fifth Avenue, New York, US
Average price per square metre: US$28,000
Price change year on year: +5.4%

10. Avenue Montaigne, Paris, France
Average price per square metre: US$26,000 (€20,000)
Price change year on year: -3%