Mystery buyer purchases Hong Kong's most expensive apartment

Mystery buyer purchases Hong Kong's most expensive apartment

November 10, 2021

Mystery buyer purchases Hong Kong’s most expensive apartment for £61million AND the one next door for £53million

  • Mystery buyer has purchased a flat for £61m and the one next door for £53m
  • Price made them Hong Kong’s most expensive flats, breaking a February record 
  • Apartments are located in luxury residential development on Hong Kong island
  • The Peak homes total 4,544 sq ft and have at least three parking spaces

A mystery buyer has purchased Hong Kong’s most expensive apartment for £61million and the one next door for £53million. 

The purchase – costing a total of £114million – broke Hong Kong’s previous record of £44million set by the sale of an apartment in 21 Borrett Road in February.  

The flats, located in a luxury residential area of Hong Kong island called The Peak, come with at least three parking spaces and total 4,544 square feet.  

Sold by Wharf Holdings Ltd and Nan Fung Development Ltd, the pair of homes are part of the Mount Nicholson development – once known as ‘Asia’s priciest address’.

In 2017, the ultra-luxury development received the title when two apartments sold to the same buyer for £110million.

The previous record was set in February by CK Asset Holdings Ltd’s 21 Borrett Road project which sold an apartment for HK$136,000 per square foot. 

A mystery buyer has purchased Hong Kong’s most expensive apartment for £61million and the one next door for £53million

In June, a parking space in the ultra-luxury development sold for £963,365 – one of several sold off in the area, which overlooks Victoria Harbour.   

It worked out that the price per square foot of the 134.5-square-foot parking spot was around £55,176. 

The sale broke the previous record for the world’s most expensive car parking spot, which was set in the city in 2019 when a bay sold for more than £725,487.

William Lau, who is a sales director at Centaline Property Agency’s branch on The Peak, said at the time that the price tag for the parking spot was negligible in comparison to the price of the flat. 

He added: ‘What concerns them most is that they need space to park their cars and not the money. They have bought it for their own use and not as an investment.’

 Sold by Wharf Holdings Ltd and Nan Fung Development Ltd, the pair of homes are part of the Mount Nicholson development – once known as ‘Asia’s priciest address’

In May, a house on the Peak was leased for £152,656 a month, which translates into about £1.8million a year for the tenant, according to Bloomberg. 

It was a five-bedroom house which came with a private elevator and a 7,000-square-foot garden.

According to the Economist Intelligence Unit’s 2020 Worldwide Cost of Living (WCOL) Survey, Hong Kong tied with Paris, France, and Zurich, Switzerland, as the most expensive city.   

It comes as Hong Kong’s property industry continues to boom – with £1.2bilion of transactions in the 12 months to June 2021, more than double than a year earlier, Colliers International reported.  

 It comes as Hong Kong’s property industry continues to boom – with £1.2bilion of transactions in the 12 months to June 2021, more than double than a year earlier (pictured, Mount Nicholson)

Source: Read Full Article