The bankers' internet site suggest that four bedroom apartments are selling for over US 40 million dollars, and estate agents in Monaco confirm this to be about right.
And they describe the 190,000 US dollars a square metre as 'eye-watering' - a description few people would disagree with, and that buyers will need to be billionaires, or not far off being a billionaire.
The second most expensive street in the world is Severn Road in Hong Kong with prices fetching 120,000 US dollars a square metre, and it isn't until third place that New York features, with Fifth Avenue real estate achieving a mere 80,000 US dollars a square metre - placing it firmly within grasp of some multi-millionaires. The upper East side side of Fifth Avenue is the part that gains most interest, and the site notes that some apartments can reach to 60 million - more than Monaco's Princess Grace Avenue, but being such a long road in comparisom it brings the average below that of Monaco's.
It's back to Europe for the fourth most expensive road, London's Kensington Palace Gardens, where property is fetching 77,000 dollars a square metre, and is symbolic of London where some areas continue to see price rises while others drop. London and Monaco normally vye for the most expensive real estate in Europe.
Helping Monaco's Princess Grace Avenue to be the most expensive street in the world is a mix of British, Russian and Arab money, with the British buyers especially attracted by her tax haven status.
Monaco's tourism is upmarket and exclusive too. In a recent report on Monaco's tourism, the Director General of the tourist office announced that no less than 93 per cent of the Principality's hotel capacity is in the luxury category - more than any other country in the world, and confirming Monaco's status as haven for the wealthy.
Also in the report figures showed that Monaco increased her tourist numbers by 36 per cent between 2004 and 2007, and last year alone saw a 10 per cent increase over 2006.
But good as the figures are, Monaco wants to further increase her tourists numbers. Unusually it's not just the numbers overall she wants to improve on, impressive though they are already - but one categoty in particular.
And it's a category of tourist that Monaco is particularly well placed to attract compared to almost every other country in the world - URI's.
URI's could almost have been a class of tourist specially designed for Monaco and all that she offers - and it stands for Ultra Rich Individuals.
One URI could spend more in a week in Monaco than several hundred average tourists, with the casino in Monte Square quite capable of taking a few hundred thousand Euros off the ultra rich in an evening or two. One URI from Italy was recently reported in a British newspaper as cashing up 700,000 Euros for one evening on the tables!
Monaco has the most expensive street in the world, and looks like she intends to keep at the top of the real estate league with London, Hong Kong and New York for some time.
Anyone who has ever had any interest in Toronto at all knows that Yonge Street is a pretty big attraction, but many don't know exactly why. This is the longest street not only in Toronto, but the world! Stretching nearly 1,900 km from Toronto Bay to Rainy River, Ontario, this street is practically a highway, filled with history.
Long before Toronto was a city and Yonge Street was a proper street, the Huron Indians used this same route as a trail. Traders also used it to reach the lake, where there was a trading post set up and Yonge Street boasts accommodation of famous feet such as those of Samuel Champlain, an explorer.
From Trail to Street to Tourist Attraction
It wasn't until John Graves Simcoe, founder of Toronto, decided that the trail should become a more professional road that Yonge Street was paved. At first, only a small portion was paved, with the intention of providing military access to the lake, but this grew and grew as the city began to spring up around it. The street grew longer and long and eventually parts of it were used as a highway, Highway 11, though these areas have now fallen into disrepair.
Yonge Street has held many positions over the centuries. First, it served as a trail leading natives to trading posts, then for the military, offering a retreat option should the Americans decide to attack, then a busy city street. When the first subways were implemented into the city, they followed the line of this ancient street. These days, Yonge Street is a tourist attraction, as well as an integral part of Toronto. It's lined with businesses and clubs, shopping centers and amazing sights and attractions and has become a tourist destination in its own right.
What to Do on Yonge Street
The majority of people who visit Toronto will only ever see a small portion of Yonge Street. If you have the time and inclination, it can be quite the trip to head all the way up to the lake and then drive down, stopping at the various sights. At the very beginning of Yonge Street, you have One Yonge Street, where the Toronto Star operates.
Also located on this very long street are such tourist sights as the Eaton Center, Empress Walk, Canon Theatre, Hockey Hall of Fame and Dundas Square, among others. There are plenty of shopping opportunities here, as well and the street is also home to businesses such as Sam the Record Man, which have long since vanished, but remain in the annals of historic photography.
Truly the Longest?
Not everyone believes that Yonge Street deserves its title of longest street in the world. They claim that since much of it now lies in ruin as the old Highway 11 that this no longer counts as part of the street. And perhaps they are right. However, no one will ever completely forget the world record for the longest street and the fact that Yonge Street received this recognition. It's still an amazing part of Toronto and its history.
Yonge Street, whether you think it's really the longest in the world or simply a great place to visit, is a huge attraction for anyone visiting Toronto. The sheer amount of history following this street is something that fascinates nearly everyone and offers a far richer story behind the street than most. Whether you're interested in history, architecture or just want to buy the latest pair of designer shoes, Yonge Street is the place for you.
Both Roger Munns & Amy Nutt are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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