Luxury Hong Kong home sells for record $36m
September 29, 2010 - Repulse Bay
A three-story home - Sunbeam House 5 at 36 Repulse Bay Road - has been sold for HK$280 million (36 million US dollars), or more than HK$65,000 per square foot.
Its total gross floor area is 4,260 square feet (395 square metres).
The sellers are Roy Chen Yang- chung, reportedly a son of a developer, and Woo Yuk-lynn.
They purchased the property, which has a parking space and an ocean view, for HK$37.52 million in 1998.
Market sources can't be sure if the buyer is from the mainland. The transaction set a fresh record for the most expensive home in Hong Kong.
It beat a deal made by Henderson Land, which sold a flat at 39 Conduit Road, Mid-Level West, for about HK$60,000 psf on Friday.
Luxury house prices in Hong Kong have shot up in recent years with buyers flooding in from mainland China.
The government has taken measures to try to cool the market amid fears of a property bubble.
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