May 23, 2017

What's more expensive: New York's Fifth Avenue or Moscow's Ostozhenka street?

moscow_street
What’s more expensive: New York’s Fifth Avenue or Moscow’s Ostozhenka street? Reviewed by on . Array Array Rating: 3.5

Recent studies ranked the most expensive streets in the world. Read this article and compare them with prices in your country!

 

Ostozhenka street in Moscow has been named among the world’s 10 most expensive streets in a study conducted by consultancy firm Knight Frank that ranked the world’s prime real estate locations according to their price tag per square meter.

The average price of residential space on Ostozhenka is $29,000 per square meter, which is more expensive than New York’s Fifth Avenue or Avenue Montaigne in Paris, where prices per square meter average $28,000 and $26,000, respectively, the study found.

Head of the luxury real estate department at Knight Frank Yelena Yurgeneva said Ostozhenka surpassed the top locations in New York and Paris sought after by private investors worldwide, but said most of the properties on Ostozhenka were owned by citizens from Russia or countries within the CIS.

 

Article by Editorial Staff
Click here to read the full article.

 

What does it mean? Click and find out!

to conduct (v) to direct the course of; manage or control
consultancy (n) a business or agency offering expert or professional advice in a field
real estate (n) the business of buying and selling land and property
per square meter (or metre) it is defined as the area of a square whose sides measure exactly one metre
to surpass (v) to be better or greater than something else
saught is the past participle of “to seek” (v) to try to locate or discover; search for

 

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Felix Echevarria
Patrizia Mayall
Estefania Sánchez Plana
Felicity Goodwin

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