September 19th, 2009
Sun Hung Kai Properties, the world’s largest developer by market value, raised the price of two penthouses in Hong Kong by 50 percent to a record HK$75,000 ($9,700) a square foot as demand surges for luxury apartments.
The units, situated on the 91st to 93rd floor of the 270-meter (886-feet) towers, will be offered for $38.5 million each.
They each have 4,000 square feet (372 square meters) on three floors, six bedrooms, an outdoor garden and a swimming pool.
The new price, in relation to floor area, make them the world’s second most expensive homes by that measure, trailing a penthouse in Monaco that was priced US$15,000 per square foot earlier this year.
Source: PropgoLuxury Properties Hong Kong Via Bloomberg
Posted in Luxury Real Estate
[...] Real estate in Hong Kong either proves that the global recession is coming to an end, or just how desperate some people are to have ultimate luxury. Word is that the world’s largest property developer by market value, Sun Hung Kai Properties, is raising the prices for two of their penthouses on the 91st and 93rd of a 70-meter (886-feet) tower in the city, by 50-percent. Forced by the increasing demand for luxury properties, the company is asking for a staggering HK$75,000 ($9,700) per square foot, adding to a total of $38.5 million each. The 4,000 square feet (372 square meters) luxury apartments are built on three floors, have six bedrooms, an outdoor garden and a swimming pool. We’ll let you find the justification for such a price … [via Luxuo] [...]