Luxury Penthouse in Hong Kong Sells For Whopping Rs 420 Crore, Most Expensive Flat Ever Sold In Asia!

Get ready to have your mind blown! A five-bedroom apartment broke in Hong Kong has just been sold at a record breaking price of $59 million (Rs 4,294,801,809), the most expensive apartment ever sold in Asia. According to an AFP report, the sprawling penthouse, known as part of the 21 Borrett Road luxury residential project by Hong Kong tycoon Victor Li’s CK Asset Holdings, has set a new benchmark for price per square foot at $17,500. Also Read – Tale of Love? Hong Kong Man Gets Engaged to Sex Doll, Lavishes Her With Expensive Gifts & iPhone

Situated on the 23rd floor of the 21 Borrett Road project, the 3,378 square-foot flat has five bedrooms and various lavish amenities, including a swimming pool, a private terrace, as well as three parking spaces. The hefty purchase has been made by an unidentified buyer, according to Bloomberg.

The penthouse has broken the record made by another luxury development in Mount Nicholson in 2017, making it the most expensive apartment in Asia, according to Bloomberg Intelligence.

Most expensive city for residential property

As a world financial hub, the city brimming with high-rise buildings, and countless skyscrapers is home to famous billionaires and property tycoons. However, over the years, the income gap has worsened as the richest citizens earned increasingly more than their low- and middle-income peers, according to Global Times.

A 2019 report by real estate firm CBRE ranked Hong Kong as the most expensive city for residential property, with an average price of $2,091 per square foot. While the ultra wealthy have not been affected by the Covid-19 pandemic and the recession, others have been struggling to make ends meet.

This is evident from the fact that Hong Kong regularly ranks as the least affordable housing in the world, with even the cheapest apartments far out of reach for most workers. Over the past decade, Hong Kong’s residential property prices have skyrocketed by 153%. A family in the city would need to save up for 20.8 years to afford a home in the city, according to the annual Demographia International Housing Affordability Study.

Undoubted, the sky-high housing prices have given way to social unrest and anger among citizens.