Title : Hong Kong flat sold for US$14.1 million
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Date : 19 October 2007 1532 hrs (SST)
URL : http://www.channelnewsasia.com/stori...306591/1/.html


HONG KONG: A new Hong Kong apartment has sold for a record 14.1 million US dollars, a report said on Friday, as the city's booming market for luxury homes continues to strengthen.

The 3,205 square foot (298 square metre) duplex apartment on Hong Kong island fetched 109 million Hong Kong dollars, or 34,000 Hong Kong dollars per square foot, according to a report in the South China Morning Post.

The sale broke the record of 33,300 dollars per square foot for a flat in the distinctive The Arch development on the opposite side of Victoria Harbour, which was sold in March.

The apartment, in the four-tower The Legend development, features a rooftop swimming pool with gold-plated fixtures and a view of the famous harbour, the paper said, quoting Louis Ho, property director at the sale agents, Centaline.

"These features attracted the buyer to pay an aggressive price for the unit," he said.

The record is not expected to last long as the developer Cheung Kong (Holdings), part of Asia's richest man Li Ka-Shing's business empire, plans to raise prices for the remaining duplexes in the building, the report said.

Earlier in the week, a prime piece of development land in Hong Kong was sold for 5.71 billion Hong Kong dollars, smashing analysts' expectations on the back of rising demand for luxury housing in the territory.


- AFP/so

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