Will HK Be Crowned King of the Residential Square Foot?

HK twelve peaks real estate
Ahhh, the view... from the development of Twelve Peaks in Hong Kong. (Screenshot)

Luxury real estate in Hong Kong is famous for increasing prices and growth. And if Sun Hung Properties can sell for its listed prices, HK will be crowned the official King of the world’s highest real estate prices.

As reported by Wall Street Journal:

“Developer Sun Hung Kai Properties is listing House No. 1 at its new Twelve Peaks development located in the city’s exclusive Victoria’s Peak neighborhood at 819.1 million Hong Kong dollars (US$105.7 million). If a buyer pays full price, it would represent a cost of HK$175,735 per square foot and would be the world’s most expensive home ever sold on a per square foot basis. It would also be the most expensive home ever sold in the city.

The recently constructed home spans 4,661 square feet, with four bedrooms, a private pool, a garden, rooftop terrace and a carport that can house two cars.

Hong Kong has broken its share of records before. The most expensive home sold to date in Hong Kong was a 5,989 square-foot manse on 10 Pollock’s Path, also located on the Peak. That house sold for HK$800 million, or HK$133,578 per square foot, in 2011.”

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