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.