surveys

The World's Most Expensive Streets 2009

Filed under: Wealth

Although prices on prime residential property are down all around the world,it's still not easy to buy on the world's most expensive streets. Avenue Princesse Grace is the once again the most expensive street in the world to buy property, where $120,000 gets you just one square meter (around 11 square feet) of prime real estate. This is down from $190,000 for one square meter last year.

The latest survey by Wealth Bulletin found that overall the prices of residential property on the top 10 most expensive streets in the world were down by 12 percent. Prices on European streets were steadiest. Of the top ten, the only street on the list that saw property prices go up was Via Suvretta in St. Moritz. The Swiss street was in sixth place with a price of $45,000 per square meter which represents an 18 percent rise since 2008.

The second most expensive street was Chemin de Saint-Hospice on Cap Ferrat with a price of $100,000 per sq/m. New York's Fifth Avenue comes in at third with a price of $72,000 per sq/m followed by Kensington Palace Gardens in London at $65,000 per sq/m. The Parisian street that includes the Harry Winston shop which was robbed last year, Avenue Montaigne is next at $54,000 per sq/m. Via Romazzino, Porto Cervo, Sardinia makes the list for the first time with $42,000 per sq/m. Severn Road, The Peak, Hong Kong is on the list at $40,000 per sq/m which represents a huge dip from last year's $121,000 per sq/m, which had this street in the second slot last year. Moscow is on the list with Ostozhenka Street at $35,000 per sq/m and rounding out the top ten is Wolseley Road, Point Piper, Australia with a price of $28,000 per sq/m.

The list is similar to last year's list. Only Via Romazzino in Sardinia and Chemin de Saint-Hospice on Cap Ferrat are new. Bumped off the list from last year were Carolwood Drive in Beverly Hills and Altamount Road in Mumbai.

Source

Tags: most expensive streets, MostExpensiveStreets, surveys, wealth

Survey Says ... the Luxury Institute's Latest

by Lisa Palladino (RSS feed) —

Filed under: Services

A few months ago, The Luxury Institute released its latest findings, and the news may not be good: The headline on its home page reads: "Luxury Brands Are Failing To Deliver on Fundamentals of Luxury at a Critical Time for the Industry." And then: "Luxury leaders need to quickly get beyond the price and cost-cutting exercises and start innovating again on quality, craftsmanship and, especially, customer service."

Really? Do you agree that the luxury industry is slipping? I find that hard to believe, based, if nothing else, on what Luxist features every day.

Here's more (the first point's not news to us):

Superior quality (82%), superior craftsmanship (78%) and superior customer service (60%) are the top three requirements of a luxury brand.
64% of wealthy consumers believe luxury goods prices are too high relative to the value they deliver.
62% of wealthy consumers say that the current state of the economy has changed their view of the luxury industry.

Click the next link to read an overview of the survey (appropriately named "WealthSurvey: The State of The Economy and Trends In The Luxury Industry-2009") and to view its Table of Contents. I can't give you more because to get the full report you need to purchase it ($650). If you're a luxury manufacturer, you might be interested. Purchase at the bottom of the aforementioned Table of Contents page.

Tags: luxury institute, LuxuryInstitute, survey, surveys

Luxury Institute Survey: Best Premium Liquor Brands

by Lisa Palladino (RSS feed) —

Filed under: Spirits

A summer survey, conducted by the Luxury Institute, asked 1,771 wealthy Americans with an average income of $351,000 and average net worth of $4.3 million to rate wine and liquor brands based on quality, uniqueness and exclusivity. Check out the CNBC slideshow to see which brands came out on top. The institute offers a variety of articles on luxury-related topics. Here is a list of its 2008 articles, but you can read back to 2005.

[Via CNBC]

Tags: CNBC, liquor, Luxury Institute, LuxuryInstitute, surveys