Compare Prices on The Strand to Luxury Properties Worldwide

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The Strand, Manhattan Beach near the pier

The Institute for Luxury Home Marketing posted the following on their blog on October 4, 2011, and then challenged readers to compare the price per square foot paid to a street in their local market that represented the highest price per square foot. So I took their challenge.  See the results.

“Despite the global economic downturn, there are still markets where residential real estate prices are in the stratosphere. Wonder where the most expensive residential real estate in the world can be found?

Here’s the list of the ten priciest streets in the world, according to a post on the Overseas Property Mall blog.

  1. Severn St., Hong Kong, China:
    $78,200 per square foot
  2. Kensington Palace Gardens, London, England:
    $76,600 per square foot
  3. Avenue Princess Grace, Monte-Carlo, Monaco:                                                        
    $69,700 per square foot
  4. Chemin de Saint-Hospice, Saint-Jean-Cap-Ferrat, France:
    $62,700 per square foot
  5. Fifth Avenue, New York City, United States of America:
    $62,700 per square foot
  6. Quai Anatole, Paris, France:
    $44,600 per square foot
  7. Rue Bellot, Geneva, Switzerland:
    $43,000 per square foot
  8. Via Romazzino, Porto Cervo, Sardinia, Italy:
    $23,700 per square foot
  9. Wolseley Road, Point Piper, Sydney, Australia:
    $20,900 per square foot
  10. Ostozhenka, Moscow, Russia:
    $18,000 per square foot “

    The Strand - North End

     

In 2010 sales of property totaling $29,897,500 averaged $1,639 per square foot on the 2.1 mile ocean frontage known as The Strand, Manhattan Beach.

2011 sales totaling $53,852,300 on The Strand ranged from $1,315 per square foot to $2,904 per square foot with an average price of $1,615 per square foot.  Apparently some buyers have figured out that ocean front property is an incredible bargain in Manhattan Beach.