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Romazzino Bay on Sardinia is Europe’s most expensive address

The highest-priced residential address in Europe is situated on the exclusive Mediterranean island of Sardinia, according to the new ranking of Europe’s most expensive addresses for 2012, published by Engel & Völkers.

The survey is based on the resi-dential real estate brokered or registered by Engel & Völkers in 2012, and is focused on exceptional locations and outstanding properties.

The Bay of Romazzino in the exclusive resort of Porto Cervo, Sardinia, is currently the highest-priced residential location in Europe, with house prices reaching up to €300,000 per square metre.

In second place ranks the Avenue d’Ostende, which boasts direct views overlooking the marina in Monaco. Prices of up to €100,000 per square metre are paid for residential real estate in this sought-after location. London once again ranks in third place on the list, led by Knightsbridge.

Here, purchase prices per square metre can reach up to €93,000.

“In Europe’s most sought-after locations, exclusive homes remain in limited supply,” said Christian Völkers, CEO of Engel & Völkers AG.

“This is not set to change in the future either, as more and more people – especially those individuals from emerging nations spanning from Asia to Russia and South America who have found new wealth – are showing an interest in Europe, investing in exclusivity and security with the purchase of a high-end property in a prime location.”

Engel & Völkers’ licensed partner in Malta is Sara Grech Ltd.

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