$39 Million Penthouses sets record in Hong Kong luxury property

September 19, 2009 - Hong Kong

Two penthouses in Hong Kong were each put on sale for a record 38.5 million US dollars.

As demand surges for luxury apartments,Sun Hung Kai Properties has raised the price of two penthouses in Hong Kong by 50 percent to a record $HK75,000 ($11,075) per square foot.

The penthouses, on the 91st to 93rd floor of the 270-meter (886-feet) towers, have six bedrooms along with their own outdoor garden and swimming pool.

"The buyers will most probably be ultra-rich mainland Chinese who like the location," Margaret Ng, senior director of client development and research at CB Richard Ellis Group Inc. in Hong Kong, said.

The penthouses' price in relation to floor area make them the world's second most expensive homes by that measure, trailing a penthouse in Monaco that was priced at the equivalent of HK$100,000 per square foot (US$15,000) earlier this year, said Knight Frank head of research Xavier Wong.

Via Bloomberg / Bornrich

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