Most expensive apartment in Asia sells for S$93.2mil

Nikki Diane De Guzman

Most expensive apartment in Asia sells for S$93.2mil

A 5,444 sq ft apartment in Hong Kong has been snapped for HK$509.6 million (S$93.2 million), making it the most expensive apartment to be sold in Asia.

Situated on the top floor of Opus Hong Kong, the “Presidential Unit” features four en-suite bathrooms, a powder room, a study and two parking spaces. According to developer Swire Properties, the luxury apartment also comes with a private 1,508 sq ft rooftop and a Jacuzzi.

Knight Frank noted that while the apartment is the priciest in Asia, a duplex within the same building— which was sold in June 2015 at HK$95,971 psf (S$17,555 psf)—remains the most expensive unit on a per sq ft basis.

Although Hong Kong is considered as the most expensive cities in the world, it still lags behind New York and London when it comes to singularly expensive properties.

To date, the most expensive apartment in New York is a penthouse within the One57 building on West 57th Street which was acquired by an anonymous buyer for US$100.5 million (S$142 million) early this year, said New York real estate group CityRealty.

Meanwhile, London retains the crown for the most expensive apartment in the world, with the sale of a three-floor penthouse at One Hyde Park to Ukrainian mining magnate Rinat Akhmetov in 2011 for a whooping £136.4 million (S$293 million), said The Guardian.

But when home prices are compared to average income, Hong Kong is ranked as the world’s least affordable city, followed by London, Paris, Singapore and New York, according to UBS.

 

 

Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg

POST COMMENT

You may also like these articles

Six things to know before investing Down Under

We look at some of the most common mistakes first-time investors make when buying Australian property. 1. Re-selling to locals only Investors who are familiar with the rules of investing in Aust

Continue ReadingNovember 13, 2015

Melbourne: Investing in the world’s most liveable city

Higher living standards, top quality education and a more favourable exchange rate are helping to drive Melbourne’s property market. By Romesh Navaratnarajah If you happen to flip through the

Continue ReadingNovember 13, 2015

New York developer partners JLL on Manhattan project

New York-based Extell Development Company, a premier real estate development firm, has partnered JLL to market its upcoming luxury residential development, One Manhattan Square, to Asian buyers. Si

Continue ReadingNovember 19, 2015