Monaco's Avenue Princess Grace Keeps Out Rif Raf

By: Christina Butty - Published:   Updated: Aug 2 2011 • References: blogs.wsj
In the Wealth Bulletin's study of the most expensive streets in the world, Monaco's Avenue Princess Grace is at the top of the list.

Named after Grace Kelly this prestigious real estate overlooks the water.

Avenue Princess Grace is not for the light of wallet, a beer at Jimmy's Bar costs more than $100, and puts people in the vicinity of Russian oligarchs, Middle Eastern oil sheikhs and the occasional Monaco royal.

Implications - The extremely high price point of properties and activities on a street like this create a surrounding exclusivity that caters to the lucky few whose wallets are conducive to spending time there. If nothing else, the title of most expensive street in the world is a draw for tourists who are fascinated by the glamorous lives of those who inhabit it.

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