A new study has found Hong Kong’s Peak Road, located at the summit of Victoria Peak, to the most expensive street in the world.
This piece of news is about as surprising to Hongkongers as a new political scandal. Expensive Hong Kong real estate? Who would have noticed?
The list, compiled by Billionaire.com, was calculated by looking at the average price per square metre of properties on any street across the world on which a sale has taken place in the last 18 months.
The Peak Road topped the list at HKD884,690 per square metre, followed by Upper Fifth Avenue in New York at HKD838,127, and Knightsbridge in London at HKD799,325.
In January, Ho Tung Gardens on 75 Peak Road was sold to a developer for HKD5.1 billion, and became the largest land deal in Hong Kong’s private residential market history, equating to roughly HKD 443,500 per square meter.
Photo: View from the Peak, Sanfamedia.com via Flickr
