27 Aug '12, 3pm

Hong Kong apartment fetches record $61 million

Hong Kong apartment fetches record $61 million

A luxury apartment in Hong Kong has sold for a record HK$470 million ($61 million), making it the priciest condominium in the Chinese city and possibly in Asia. An unidentified buyer paid the HK$75,806 ($9,773) per-square-foot price for the 6,200-square-feet (576-square-metre) unit at Opus Hong Kong designed by the Pritzker Prize-winning architect Frank Gehry in the upmarket Peak residential area. The whopping price for the unit, which takes up the entire eighth floor of the 12-storey building, is believed to be Asia’s most expensive apartment and the world’s second most costly after London’s One Hyde Park , Sing Dao Daily said. Property prices in Hong Kong, famous for its sky-high rent and super-rich tycoons, have surged over the past few years due to record low interest rates and a flood of wealthy buyers from mainland China. The property market however has seen a slowdo...

Full article: http://www.luxuo.com/luxury-locations/opus-hong-kong-apar...

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