{"id":602,"date":"2015-12-28T11:35:48","date_gmt":"2015-12-28T04:35:48","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-apartment-claims-most-expensive-title-in-asia\/"},"modified":"2016-01-03T17:51:54","modified_gmt":"2016-01-03T10:51:54","slug":"hong-kong-apartment-claims-most-expensive-title-in-asia","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-apartment-claims-most-expensive-title-in-asia\/","title":{"rendered":"Hong Kong apartment claims \u2018most expensive\u2019 title in Asia"},"content":{"rendered":"


\nIt sold for USD76\u00a0million
\nThe 39 Conduit Road development by Henderson Land Properties
\nThe ultra-affluent Mid Levels neighbourhood in Hong Kong is thought to be the location of the newest most expensive apartment in Asia after a luxury duplex there sold for HKD590 million (USD76 million) last week, reports the\u00a0South China Morning Post.
\nAt over HKD100,000 (USD12,900) per sqft,\u00a0this overtakes the previous record holder in the Frank Gehry-designed Opus Hong Kong development, which sold for HKD95,971 (USD12,400) per sqft earlier this year \u2013 that unit comprises the entire eighth floor of the 12-storey luxury development and was bought for a sum of HKD470 million (USD61 million) in June.
\nMore: Apparently this is the world\u2019s most expensive residential market (again)
\nDeveloped by Henderson Land Properties, according to the\u00a0Times of India,\u00a0the newly record-breaking 5,732 sqft duplex is equipped with four bedrooms on the 46th floor of 39 Conduit Road. With a beautiful view of the iconic Victoria Harbour, the apartment also enjoys a 1,754 square foot roof top.
\nThe sale is especially significant as it comes directly in the wake of the very recent US interest rate rise which is expected to have a negative effect on many of Asia\u2019s housing markets.
\nHong Kong, in particular, is predicted to suffer from the rise as the Hong Kong dollar has been pegged to the US dollar for decades.
\nMore: What the US interest rate hike means for Asia\u2019s biggest property markets
\nAccording to\u00a0Channel News Asia,\u00a0the de facto central bank in the Chinese territory\u00a0raised its base interest rate by 25 points in response to the first US rate rise in almost 10 years.
\nExperts are clear though that this headline-making expensive sale is nothing more than an anomaly in the market and certainly not indicative of\u00a0the Hong Kong market as a whole.
\n\u201c(For) the super-rich, I don\u2019t think the small increase in the interest rates have any impact on their purchasing power,\u201d explained Buggle Lau, chief analyst at Midland Realty.\u00a0\u201cThis (sale) is exceptional \u2013 it can\u2019t reflect the whole market.\u201d
\n
\nSource : property-report.com
\nRead more…Hong Kong apartment claims \u2018most expensive\u2019 title in Asia<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It sold for USD76\u00a0million The 39 Conduit Road development by Henderson Land Properties The ultra-affluent...<\/p>\n","protected":false},"author":1,"featured_media":603,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2015\/12\/Screenshot-2015-12-28-09.24.55-740x357.png?fit=740%2C357&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-9I","jetpack-related-posts":[{"id":32405,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/someone-just-spent-usd620k-on-a-luxury-car-parking-space\/","url_meta":{"origin":602,"position":0},"title":"Someone just spent USD620k on a luxury car parking space","date":"October 31, 2016","format":false,"excerpt":"\r Setting a new record On top of the price of the car itself, thats a lot of money. Image credit: Max Plocek\/Shutterstock A car parking space in Hong Kong was sold for a record HKD4.8 million (USD619,000) last week, setting a record for the most expensive of its kind\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33516,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adjoining-luxury-flats-in-hong-kong-sell-for-a-record-hk104803-per-sq-ft-the-highest-in-asia\/","url_meta":{"origin":602,"position":1},"title":"Adjoining luxury flats in Hong Kong sell for a record HK$104,803 per sq ft, the highest in Asia","date":"November 8, 2016","format":false,"excerpt":"\r Three days after the Hong Kong government raised the residential stamp duty to 15 per cent to rein in runaway home prices, adjoining luxury flats on The Peak sold for HK$104,803 per square foot, the most expensive for an apartment in Asia in terms of per square foot cost.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":396,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-luxury-flat-sells-for-record-hk594-7-million\/","url_meta":{"origin":602,"position":2},"title":"Hong Kong luxury flat sells for record HK$594.7 million","date":"December 31, 2015","format":false,"excerpt":"\r \r A luxury apartment in Hong Kong that sold for a record HK$594.7 million (Dh281.8m) days before Christmas, has become the most expensive flat in the city and possibly in Asia.An unidentified buyer paid more than HK$103,700 per-square foot for the 5,732 square-foot unit at the luxury 39 Conduit\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33878,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/asias-most-expensive-apartment-just-sold-in-hong-kong-again\/","url_meta":{"origin":602,"position":3},"title":"Asia\u2019s most expensive apartment just sold in Hong Kong \u2014 again","date":"November 11, 2016","format":false,"excerpt":"\r What stamp duty? Victoria Peak, Hong Kong. caminoel\/Shutterstock Defying expectations after the increased stamp duty on property purchases, Hong Kong just saw the sale of the most expensive apartment in Asia in terms of cost per square foot. Units 16A and 16B at luxury development Mount Nicholson on The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/asias-most-expensive-flat-hong-kong-luxury-pad-may-set-a-new-record-is-sale-confirmed\/","url_meta":{"origin":602,"position":4},"title":"Asia\u2019s most expensive flat? Hong Kong luxury pad may set a new record is sale confirmed","date":"December 23, 2015","format":false,"excerpt":"\r A luxury duplex apartment in Hong Kong\u2019s affluent Mid-Levels area is believed to have been sold for more than HK$100,000 per square foot, a deal that could make the place the most expensive flat in Asia, according to market sources.\r \r Source : South China Morning Post\r Read more...Asia\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82841,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/high-living-another-luxury-hong-kong-hilltop-house-sells-for-stratospheric-price\/","url_meta":{"origin":602,"position":5},"title":"High living: another luxury Hong Kong hilltop house sells for stratospheric price","date":"March 16, 2018","format":false,"excerpt":"\r A house at the ultra exclusive Mount Nicholson area on The Peak in Hong Kong has sold for HK$1.39 billion (US$177.3 million), a price that makes it the second most expensive in Asia on a square foot basis. 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