Luxury Hong Kong Apartment Breaks Sale Record
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Located in Hong Kong’s exclusive Mid-Levels neighborhood, the apartment is Asia’s priciest, according to «Bloomberg.»
A 3,378 square foot penthouse at the 21 Borrett Road development was sold on Monday for HKD $459,408,000 ($59,258,165) to an unnamed buyer, according to transaction details published by the developer.
The apartment on the 23rd floor also comes with its own swimming pool and three parking lots, according to its prospectus. The first phase of sales at the development, which was delayed from 2019, includes 15 units measuring between 2,075 and 3,378 square feet.
Developer CK Asset Holdings, which is run by tycoon Victor Li, delayed sales of the project amid social unrest in the special administrative region, and the luxury property market has been reeling from the fourth wave of Covid-19 infections and economic downturn, according to Hong Kong daily The Standard.
The sale of the apartment, which broke the record made by another luxury development in Mount Nicholson in 2017, could be a sign that the local property market is looking up.
Questions & Answers
Q.What are the key features of the record-breaking apartment?
What are the key features of the record-breaking apartment?
The apartment is a 3,378 square foot penthouse on the 23rd floor of 21 Borrett Road. It includes its own swimming pool and three parking lots, according to the prospectus.
Q.Who is the developer of the 21 Borrett Road project?
Who is the developer of the 21 Borrett Road project?
The developer of the 21 Borrett Road project is CK Asset Holdings. This company is run by the tycoon Victor Li.
Q.Why were sales of this development previously delayed?
Why were sales of this development previously delayed?
Sales of the project were delayed from 2019 due to social unrest in Hong Kong. The luxury property market has also been affected by Covid-19 infections and an economic downturn.
Q.How much did the apartment sell for in Hong Kong Dollars and US Dollars?
How much did the apartment sell for in Hong Kong Dollars and US Dollars?
The apartment sold for HKD $459,408,000. This is equivalent to $59,258,165 in US Dollars.
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