Monaco Home to World's Most Expensive Residential Property

August 16, 2010 - Monaco

Prices of prime Phuket property are amongst the cheapest of the world's most popular international homes market according to a new report.

The International Residential Report published by Chesterton Humberts discovered the price of new homes on the Thai island were EUR3,500 (US$4,460) per sqm.

Prices for similar homes in Singapore were recorded at EUR16,200 (US$20,650), and at EUR19,500 (US$24,850) in Hong Kong.

Monaco remains the world's most expensive location for property, with prices for a second hand home coming it at EUR45,000 (US$57,350) per sqm.

London penthouse apartment sells for record £140 million

August 12, 2010 - London

A penthouse in one of London's most opulent developments has sold for a record-breaking £140 million, as the market for "trophy homes" bucks the wider property slump.

The six-bedrooom apartment at One Hyde Park, Knightsbridge, stretches across two floors and boasts bullet-proof windows, a panic room and views across the Serpentine.

The new owners will also have access to 24-hour room service from the neighbouring Mandarin Oriental hotel, and protection from SAS-trained security guards.

Kuala Lumpur land deal could be most expensive ever

August 09, 2010 - Kuala Lumpur

Singapore property magnate Kwek Leng Beng is in discussions to sell a parcel of land in Malaysia that could be the most expensive in the country's history, the Malaysian Business Times has reported.

The roughly 32,000 square foot parcel owned by Beng's City Developments Ltd in Jalan Bukit Bintang, Kuala Lumpur could go for as much as RM3,000 (US$953) per square foot.

Currently the most expensive land deal recorded in Malaysian history is Sunrise Bhd's purchase of Wisma Angkasa Raya in Jalan Ampang, Kuala Lumpur for RM2,588 (US$822) per square foot.

Asia’s ‘most luxurious’ home sold for US$24 million

August 04, 2010 - Phuket

Beyond Villa, located Natai Beach in Thailand's southern Phang Nga province, has been sold for around US$24 million.

The 6,500 sqm property, which was previously owned by California Fitness founder Eric Levine, has been purchased by an unidentified Russian buyer, according to several sources familiar with the transaction.

The ocean-front property has been on the market for several years and was initially listed at around US$27.5 million.

Hong Kong land auction fetches $1.3 billion

July 30, 2010 - Hong Kong

Hong Kong on Wednesday auctioned a plot of land for HK$10.4 billion ($1.3 billion) in its third-most expensive land sale, beating forecasts and adding to fears of a bubble in one of the world's hottest property markets.

Hong Kong's privately owned Nan Fung Group won the auction according to Reuters.

The deal was closely watched as prices at the auction are an indicator Chinese investors' appetite as they diversify their portfolios due to policy tightening at home.

Record price achieved for condo in the Philippines

July 16, 2010 - Philippines

Leading luxury real estate project Raffles Makati Hotel and Residences has sold a penthouse that has achieved the highest price per square metre ever paid for a condominium in the Philippines.

A spokesperson for the unidentified buyer said: "My client's global portfolio consists of prestigious projects in several cities.

This purchase was influenced by the fact that this development is the best project in Manila, both in terms of build quality and service levels that the Raffles brand is synonymous with."

Du Parc Kempinski- the most expensive property in Switzerland

July 09, 2010 - Switzerland

Old-school opulence meets modern chic at the Du Parc Kempinski Private Residences, along with some of the finest views the eye could wish for. Welcome to Switzerland's most breathtaking new luxury experience

A short trip from Vevey, one can find the ultra-exclusive Du Parc Kempinski Private Residences - currently being redeveloped into three penthouses and 21 apartments.

The Belle Epoque-style structure sits on top of Mont-Pèlerin, within the UNESCO-protected vineyards of the Lavaux region and overlooking both the Alps and Lake Geneva.

The most expensive house of the year

June 21, 2010 - California

The recent purchase of a Bel-Air mansion has broken the record for most expensive real estate transaction in the United States so far in 2010.

Developer Mohamed Hadid sold the property Le Belvedere to an unnamed LLC for a price between $50 million and $72 million (the asking price).

The French chateau-inspired mansion features a Moroccan entertaining room, a Turkish steam bath room, an infinity pool, an industrial kitchen with pizza oven, and a 5,000-bottle wine cellar.

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.

Singapore's Most Expensive Bungalow

June 17, 2010 - Singapore

A Chinese national is believed to have set the record price for a bungalow here, forking out a handsome $36 million for a luxury home in Sentosa Cove.

The property in Paradise Island was sold last month in the resale market at $2,403 per sq ft (psf), based on latest Urban Redevelopment Authority (URA) caveat records.