Lakshmi Mittal’s London home street among world’s most expensive areasa

LONDON (TIP): London’s leafy Kensington Palace Gardens – home to Indian steel tycoon Lakshmi Mittal has been found to be the world’s second-most-expensive street. Mittal owns house number 9a and 18-19 on this treelined street. He has however put his neo-Georgian mansion on sale. The selling price for the 14,736 square feet property (9a) has been earmarked at just £110 million- seven million pounds below what Mittal had bought it in 2008. The 12-bedroom palatial home was the most expensive in Britain when he had bought it for £117 million. It was bought for Mittal’s son Aditya from Israeli- American financier Noam Gottesman.

Realtors say properties here change hands for as much as £122 million on an average. The road is also home to Formula 1 chief Bernie Ecclestone’s daughter Tamara, French, Russian and Japanese embassies and some of the world’s most famous billionaires including Roman Abramovich. At an average price per square metre being as high as $107,000 or £69,900, (Rs 69 lakhs) the avenue whose latest tenant is the future kings of England – the Duke of Cambridge prince William and his toddler son prince George is second only to The Peak in Hong Kong. With its panoramic views over Hong Kong Island and Victoria Harbour, the prestigious Pollock’s Path has been found to be the world’s most-expensive street priced at $120,000 per square metre.

According to the recently released Wealth-X and UBS Billionaire Census 2013, the total real-estate holdings of the world’s billionaires are estimated at $169 billion, which equates to an average of $78 million per billionaire. Billionaires own an average of four homes, many of which are based in trophy cities such as London, New York and Paris.

Monaco’s Avenue Princesse Grace – home to Roger Moore, Lewis Hamilton and Helena Christensen is the third most expensive street followed by France’s Boulevard du General de Gaulle with an average price per square metre being $79,000. It is home to Brad Pitt and Angelina Jolie, Paul Allen and Charlie Chaplin. Singapore’s Paterson Hill is the fifth most expensive road followed by Chemin de Ruth in Geneva. Located in the heart of Switzerland’s Cologny, Chemin de Ruth is Switzerland’s most-expensive street.

Romazzino Hill in Sardinia is the 7th most expensive street while property prices at Ostozhenka in Moscow hover around $29,000 per square metre. The world’s most famous Fifth Avenue in New York is the 9th most expensive street in the world. Incase you want to buy a property here, you would have to shell out $28,000 per square metre. New York’s rich and famous have flocked to Fifth Avenue since the 1900s.

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The street is home to the most iconic landmark buildings and shopping centres in the US, including the Empire State Building, the Rockefeller Center and Saks. Property agents are currently listing a six-bedroom fifth-floor apartment at 995 Fifth Avenue for $29.9 million. The final entry at the top 10 most expensive streets list is Avenue Montaigne from Paris.

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