Hong Kong and luxury go hand in hand. And with the world catching up with financial hard times that had been troubling us all for a year now, the city is all set to have confidence in the economy all over again. News is that Sun Hung Kai Properties, the largest developer by market value in the world, has put two penthouses in Hong Kong for sale at a record 38.5 million US dollars.
We are informed that the price of the two penthouses mark a rise in market value by 50 per cent. This translates into $11,075 per square foot. The two apartments in question are situated on the 91st to 93rd floor of a 270 meter high building. Each has six bedrooms as well as an outdoor garden and swimming pool.
Interestingly, the Land Registry shows that the number of sales and purchase agreements on Hong Kong homes that cost at least $.47 million have tripled to 500 in August this.