An apartment sale in HK sets a new Asia record for most-expensive housing
The apartment on the Peak, a luxury residential area on Hong Kong Island, came with three parking spaces and is measured at 4,544 square feet
Prices for upscale homes will grow 3% in the second half of the year, driven by robust demand from both mainland Chinese and wealthy local residents, Colliers estimates. Finding an apartment that suits your lifestyle and needs isn’t easy, check out apartments for rent in Savannah
The unidentified buyer at Mount Nicholson also bought an adjacent apartment for HK$561 million, boosting the total bill to more than HK$1.2 billion for the transaction, the developers said.
Mount Nicholson is one of the most sought-after ultra-luxury developments among Hong Kong’s wealthy. Given the scarcity of land on the Peak, it’s rare to have new projects available for sale in the exclusive neighborhood. Buyers include the late tycoon Stanley Ho’s daughters Alice Ho and Sabrina Ho as well as Edwin Leong, founder of local developer Tai Hung Fai Enterprises.
A unit in Mount Nicholson had claimed the record for Asia’s most expensive apartment in 2017 before 21 Borrett Road replaced it earlier this year.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Wed, November 10 2021. 16:21 IST