World’s most expensive home goes on sale in Hong Kong
The 4,661 square-foot ultra-luxury home, located in the southern Chinese city’s affluent Peak district, comes with a HK$819 million price tag.
Asia’s most expensive home per square foot is set to go on sale in Hong Kong, which boasts some of the world’s costliest properties!
The 4,661 square-foot (433 square-metre) ultra-luxury home, located in the Peak district, comes with a HK$819 million ($105.67 million) price tag.
The asking price for the property at the Twelve Peaks development makes it the world’s most expensive house at HK$175,735 per sellable square foot.
This would make it Asia’s most expensive home per square foot if a buyer matches the price sought by developer Sun Hung Kai Properties.
With four bedrooms the house is compact by luxury standards, but it comes with a swimming pool, jacuzzi, elevator and an exclusive location on Victoria Peak, on Hong Kong island, that offers spectacular views over the city.
Despite efforts by HK’s government to curb property prices by boosting stamp duty for foreign property buyers, developers are still pricing property projects aggressively to tap into demand from wealthy buyers from mainland China.
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The government has in recent years imposed new taxes, raised stamp duty and staged a series of land auctions to boost supply and bring down prices in an attempt to tame one of the world’s least affordable housing markets.
A luxury 6,200 square-foot apartment in a building designed by Pritzker Prize-winning architect Frank Gehry sold for HK$470 million in August 2012.
At the time of purchase it was believed to be the world’s second most expensive apartment after a penthouse flat at London’s One Hyde Park.