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