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Most expensive flat sold in Hong Kong

Last Updated: Friday, October 16, 2009 - 00:26

Hong Kong: It`s a price tag that would make even New Yorkers and Londoners gasp _ nearly $57 million for an outsized luxury apartment in one of Hong Kong`s wealthiest neighborhoods.

A five-bedroom duplex suite with as much as 6,158 square feet was sold Wednesday to an unidentified buyer from mainland China, said the developer, Henderson Land Development, a major Hong Kong property company. It claims the apartment is the most expensive in Asia by square foot.
Aside from an aroma spa center, fitness room, outdoor yoga gym and grand harbor views, the new homeowner will enjoy an exclusive address in the hills of Hong Kong`s main island _ "a majestic realm for the city who`s who," according to a statement from the developer.

The deal comes at time when Hong Kong real estate, benefiting from mainland China`s booming market and easy money sloshing through the world financial system, is surging and inspiring talk of a bubble.

The city has long had one of the world`s most expensive property markets, with prices that many local residents are hard pressed to afford. About 47 percent of Hong Kong lives in publicly subsidized housing, according to government data.

Bureau Report

First Published: Friday, October 16, 2009 - 00:26

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