Sale collapses and Hong Kong property cools

June 17, 2010 - Hong Kong

Heralded as one of the world’s most expensive property deals at HKD88,000 / US$11,300 per sqft when the sale was announced in October last year, developers Henderson Land announced this week that the sale of the penthouse, alongside 19 other units, has fallen through at its 39 Conduit Road development.

With the news that the sale of a 6,158 sqft duplex penthouse in the mid-levels district has collapsed, the long awaited cooling of Hong Kong’s property market now seems certain.

Hong Kong apartment sells for $57 million

October 14, 2009 - Hong Kong

Just hours after Hong Kong’s chief executive warned Wednesday that the city might be facing a real estate bubble, one of the city’s largest real estate developers announced that it had sold a duplex apartment in Hong Kong for a record price.

The apartment, on the 68th floor of the "Conduit Road 39" building, fetched HK$439 million ($57 million), or HK$88,000 a square foot excluding parts of the building shared by all residents. The price per square foot set a record for Hong Kong.