Archive for September 19th, 2009
Luxury penthouses makes record Bid !!
September 19th, 2009
Two penthouses in the heart of the Hong Kong, were each put on sale for a record of 38.5 million US dollars, which is a record and which makes all the bid of penthouses to go high.
Sun Hung Kai, the world’s largest developer by market value, says it raised the asking price by 20 per cent for the 4,000 per square feet penthouses on top of the Cullinan twin towers which is the Hong Kong’s tallest residential development building . This property will be the city’s most expensive parts, if they are sold at 300 million Hong Kong dollar which equals 75,000 dollars per square foot.
“We decided to increase the bid price after seeing the market is going up so much,” a spokesperson for the developer told , adding that buyers from Hong Kong, China and overseas had shown keen interest in the units in recent times. The penthouses which is on the 91st to 93rd floor of the 270-meter towers, has their own outdoor garden system and a swimming pool.
What makes the record ??
Its the rate per square feet ,Until now, Hong Kong’s most expensive flat per square foot is a 5,497 per square feet which is on the 80th floor of The Arch in Kowloon, another development by Sun Hung Kai. It was sold out for 225 million dollars, or 40,931 dollars for a square foot, in last year june. Prices in the city’s luxury market have been greatly driven up by super-rich mainlands who tend to target new, top-end properties, as the Chinese economy has picked up well in recent times.
Earlier this week, one buyer paid a 24.5 million dollars, or 30,025 dollars for a square feet, for an apartment in the Masterpiece luxury development in Tsim Sha Tsui area, making it the most expensive one-bedroom flat in the entire town.
Tags: Cullinan twin towers, expensive one-bedroom flat, hong kong, luxury, penthouses, record
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