A luxury Hong Kong apartment has recently sold for HK $470 million ($61 million USD), AFP reports. The unit has exceeded the previous record price of HK $360 million, making this condominium the priciest apartment in Hong Kong.The 6,200-square-foot unit takes up the entire eighth floor of the 12-story Opus Hong Kong, designed by renowned architect Frank Gehry. The anonymous buyer will enjoy sweeping views of Hong Kong’s financial district from the hillside vantage point of The Peak, a long-time property favourite of Hong Kong’s most affluent homeowners.
The new record price follows the recent upward trend of Hong Kong’s real estate market. The city not only reported a drastic rent increase of 15%, but has earned the title of most expensive high-end residential property globally. The reason for the surge stems from an influx of companies from Korea, Japan, and mainland China, in addition to the city’s high population-per-square-foot ratio, according to the Wall Street Journal.
And with rent more than five times the average Hong Konger’s salary, that means fewer and fewer residents are able to afford decent accommodations—even those in the upper middle class.
There are no listing photos of the apartment available but you can see from the floor plan that this pad is one-of-a-kind:
Photo: Opus Hong Kong
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