Property for sale on Kensington Palace Gardens 'still in demand'

Posted: 24 Jul 2009 10:39:13 GMT

A recent survey has confirmed Kensington Palace Gardens as one of the world's most expensive streets.

According to figures produced by the Dow Jones Wealth Bulletin, property on Kensington Palace Gardens - a private road running along Kensington Palace which is home to several embassies - is the world's fourth-most expensive property for sale.

Despite the current economic climate, estate agent Savills reports that two properties have been successfully sold on the street since the start of the year and that just one square metre of real estate in the area costs a staggering $65,000 (£39,427).

According to Wealth Bulletin, the Avenue Princesse Grace, Monaco is the most expensive street in the world with buyers expecting to pay around $120,000 (£72,788) per square metre for property for sale on the prestigious avenue.

Number 14 Kensington Palace Gardens, designed by Thomas Cubitt, has been the official residency of the Ambassador of Finland since 1952.

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