Arab Today, arab today hong kong apartment sells for record 767m
Last Updated : GMT 22:03:31
Arab Today, arab today
Arab Today, arab today

Hong Kong apartment sells for record $76.7m

Arab Today, arab today

Arab Today, arab today Hong Kong apartment sells for record $76.7m

Property prices in Hong Kong, famous for its sky-high rent and super-rich tycoons
Hong Kong - AFP

A luxury apartment in Hong Kong sold for a record HK$594.7 million ($76.7 million), days before Christmas, making it the most expensive flat in the city and possibly in Asia, reports said Friday.

An unidentified buyer paid more than HK$103,700 per-square-foot for the 5,732 square-foot (532 square-metre) unit at the luxury 39 Conduit Road apartment tower in the southern Chinese city's upmarket Mid-Levels residential area, The Apple Daily and The Standard reported.

The condominium, on the 46th floor with a view of the iconic Victoria Harbour and a 1,754 square-feet rooftop, had a list price of HK$646.48 million on developer Henderson Land Properties' website.

The price beats the previous record HK$470 million paid for a luxury unit which takes up the entire eighth floor of the Opus Hong Kong, a 12-storey residential building designed by Pritzker Prize-winning architect Frank Gehry, in 2012.
available for comment Friday, a public holiday.

This comes as analysts said a US interest rate hike could put an end to the housing boom in the Chinese city which maintains a decades old peg with the US dollar.

Hong Kong-based brokerage CLSA warned the residential market was at a "turning point", with prices possibly dropping 17 percent by 2017, while other firms have tipped falls of up to 30 percent.

Hong Kong's de facto central bank last Thursday raised its base interest rate by 25 points to 0.75 percent after the US Federal Reserve announced its first rate increase in more than nine years.

But chief analyst for Midland Realty Buggle Lau said the record-breaking purchase does not reflect the bigger picture of the overall property market in the city.

"The super-rich, I don't think the small increase in the interest rates have any impact on their purchasing power," Lau said.

"This is exceptional, it can't reflect the whole market," which he described overall as "sluggish".

Property prices in Hong Kong, famous for its sky-high rent and super-rich tycoons, have more than doubled in six years due to record low interest rates and a flood of wealthy buyers from mainland China.

Many residents complain they can no longer afford decent accommodation in the city of seven million people, and analysts say property ownership is out of reach even for the upper middle class.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hong kong apartment sells for record 767m Arab Today, arab today hong kong apartment sells for record 767m

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Rebel supporters flood Yemen streets

GMT 06:39 2017 Monday ,27 March

Rebel supporters flood Yemen streets
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Nermein Al Fekki films “Foxes in the Valley”

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday