A 5,732 sq ft duplex apartment in Hong Kong is believed to have been sold for a whopping HK$590 million (S$106.86 million) or HK$102,900 (S$18,637 psf), reported the South China Morning Post.
Located on the 46th level of Henderson Land Development’s 39 Conduit Road, the luxury duplex unit comprises four bedrooms and a 1,754 sq ft roof top, an industry source said.
Once the deal is completed, it will replace the Opus Hong Kong unit as the most expensive apartment in Asia. Read more > Most expensive apartment in Asia sells for S$93.2mil
Meanwhile, another apartment located on the ground and first floors of Opus Hong Kong was sold for HK$487 million (S$88.28 million) or HK$95,971 (S$17,397) psf in June.
The sale comes after housing market sentiment fell to a new low following the US Federal Reserve’s decision to raise interest rates by 25 basis points.
The secondary market saw jittery homeowners reduce prices by over HK$1 million (S$181,338), while developers witnessed lukewarm responses during their project launches.
Sino Land, for instance, sold only 28 percent or 27 units of the first batch of 96 units at The Mediterranean in Sai Kung.
Meanwhile, luxury home transactions at 35 housing estates tracked by Riacorp Properties plunged 25 percent from 52 in October to 39 in November.
“It falls to below 100 deals for four consecutive months and it is also a drop to an 11-year low,” said Ricacorp Director Eric Cheung.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
