Monday, August 27, 2012

Asia's priciest condo sold for record S$76m

A high-end apartment located in the upmarket Peak residential area in Hong Kong has been sold for a record HK$470 million (S$76 million).

Hong Kong media reported that an unidentified buyer paid a psf price of HK$75,806 (S$12,227) for the 6,200 sq ft unit that takes up the entire eighth floor of the 12-storey Opus Hong Kong.

The unit is believed to be Asia’s most expensive apartment and the world’s second priciest, following London’s One Hyde Park.

Developer Swire Properties declined to confirm the sale although a spokesman confirmed that the tenants recently leased another unit at the property.

“This is definitely a new record price for any Hong Kong apartment,” stated Wong Leung Sing, Research Head at Centaline.

“But we think it's an isolated case as this is an ultra-luxury condo,” Wong noted, adding that the sale could not be used as a yardstick to gauge investors' appetite for high-end apartments.

View the original article here

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