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The World's Most Expensive Home Is Up For Sale
Forget London's Mayfair, ignore New York's Central Park West; the world's most expensive home (on a square-foot basis) is at the exclusive Victoria's Peak neighborhood in Hong Kong. No. 1 Twelve Peaks is a 4,661 square foot home that, if sold for list, is valued at a stunning $22,675 per square foot... As WSJ notes, those interested in the latest listing will be encouraged to act fast: A buyer will be offered a 3% discount if a deal is made within five months.
As WSJ China reports (h/t @jjasonchew ),
In Hong Kong, luxury real estate prices keep climbing to the stratosphere.
Developer Sun Hung Kai Properties 0016.HK +0.87% is listing House No. 1 at its new Twelve Peaks development located in the city’s exclusive Victoria’s Peak neighborhood at 819.1 million Hong Kong dollars (US$105.7 million). If a buyer pays full price, it would represent a cost of HK$175,735 per square foot and would be the world’s most expensive home ever sold on a per square foot basis. It would also be the most expensive home ever sold in the city.
The recently constructed home spans 4,661 square feet, with four bedrooms, a private pool, a garden, rooftop terrace and a carport that can house two cars.
Hong Kong has broken its share of records before. The most expensive home sold to date in Hong Kong was a 5,989 square-foot manse on 10 Pollock’s Path, also located on the Peak. That house sold for HK$800 million, or HK$133,578 per square foot, in 2011.
...
Those interested in the latest listing will be encouraged to act fast: A buyer will be offered a 3% discount if a deal is made within five months. Sun Hung Kai is also offering the early-bird buyer a 11.75% rebate on the 15% buyer’s stamp duty.
Discounts have lately become common practice in Hong Kong as developers hope to stoke lagging demand of new homes.
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One wonders who the buyer might be now that London and New York appear to have 'sanctioned-out' the Russian Oligarchs and as we noted previously, the billionaires see Hong Kong dollars like US dollars (but safer from Washington's grasp)...
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Those walls are tall. That gate is tall. But not tall enough methinks.
Hong Kong is in Brazil, right?
Believe it or not there are places more expensive than Toronto.
http://www.planbeconomics.com/2014/08/the-18-cities-with-property-more-e...
what an eyesore
Can we send them a property tax bill? Just thinking about charging and collecting tax on that property makes me horny.
Let's see, assuming my calculator is correct, that comes out to chump change.
I am Chumbawamba.
Largest Estate In USA For Sale — $725 million
4 bedrooms 2 car garage....BIG FUCKING DEAL
Hong Kong gets some serious hurricanes. I hope they have good insurance building a glass house on top of a mountain in typhoon central.
How does a 510K acre property with everything on it compare to a single family home that's not even .00002 the space available?!
Too late, i bought the property!!
Singapore House Prices Fall for Second-Straight Quarter
SINGAPORE—Private home prices in Singapore fell for the second-straight quarter as government steps to cool the real-estate market continued to take effect.
Analysts say prices will weaken further this year as the supply of homes increases while regulators keep in place measures aimed at curbing sharp rises in property prices in recent years.
http://online.wsj.com/news/articles/SB1000142405270230415720457947466035...
Singapore? That's only a 3 and a half hour flight from Hong Kong...........
All that QE money has to go somewhere, I suppose. Also, this makes another good of example of who and what all this printing over the years has truly 'helped'.
Heyyyyyyyyyyyyy wait a minute
as long as I have checks
i still have money
soooooo I can make money like the Fed does
where is my pen?
If it was a timeshare I could buy a few square inches.
It will do nicely for my Chevy Vega collection. It'll hold three easy in the garage and five more up on blocks.
Yep....and for your $15,000 share, they'll let you deliver the mail once a year. The good news is that you get to pick the day. (excluding holidays)
pretty tasteless house for 800 million hkd.
Looks very made in china, can almost taste the crappy materials used just by looking at the picture.
Most of the material would be imported and of the best brands globally.
Gotta be a banker somewhere who would think that's a great view for blow and hookers.
And in closing to his fruitful life he can watch the hungry mob storm the gates.
Putting in my bid now...
Putin's new pad.
The proper metric should be price per boom boom, how about it boyz, how much per diddle did your shack cost?
on a side note: "People say satire is dead. It's not dead; it's alive and living in the White House."
RIP Robin Williams
That is a nice office building.
Isn't it amazing what you can build with Lego's today?
London is going to be frozen solid in an ice sheet within a few years. I would not being buying propertiy at those latitudes.
The Oubliette is too narrow for my mind.
Is that one of those mini 'Courtyard Inn' extended stay places? I hope they remembered to stock the minibar.
Looks like the perfect flip opportunity.
What do you say Janet, shall we go for it? It could be our free ticket to that yacht we've been eyeing for two weeks.
I'd had to buy the thing and then have the ChiComs seize it for a People's Meeting Hall.
5/10 net 30 may turn to offer into more attraction. Don't think 3% will hold. Pretty small square footage for the asking price. I have a home on the ocean that is nearly equal in size. This house is a fucking ripoff.
Hear ya. If this sells to someone from China, I am telling my Realtor™ friend to put our condo on the market for $1,000,000 moar than it's worth, and to make sure Chinese people get to see the opportunity...
The owner must think he is redistributing wealth utilizing Quantitative Easing. The bonus question, how much does he owe on the bank deed? How much has Hong Kong fucked the owner in property taxes and HOA fees? This story reminds me of Rush selling his NYC apartment and giving Bloomberg the middle finger.
Recent construction is terrible. It's all particle strand board and formica. Save your money and buy a 19th century home in good shape. They are made of real materials. Probably pick one up for 20 dollars a sq ft and with some owners sweat equity and a book on wiring you'd be mortgage free before you know it.
maybe a little pricey for a tear-down.
A good place for Jamie Dimon to recuperate and Rest, In Peace.
Any place is good for that. In a ditch in Iraq, floating in the Gangees River, top of a trash pile...
A dollar two ninety eights is all i'm offering. Market is only what some arm's length buyer is willing to pay.
How much do the bodyguards cost?
depends if they are ex-PLA or Gurkhas.
When in HK, I ask the concierge where we could take the subway, Their reply was anywhere! And we did. And everywhere we went, the people were very nice and respectful. I don't think there is much crime there.
absolutely true. But the super rich have body guards.
who is fucked enough to spend 107million to go live in hong kong.. i mean..
in case of war this is lost. with 100 million i prefer buyin a fucking boat to be mobile on seas with 20mm canon tower on side
those richs... absolutly zero sense of reality & pragmatism.
Why it is for sale.
And such a bargain with that view !
If you have ever been up on Victoria Peak at night looking over the Harbor towards Kowloon you wouldn't make light of the view.
most of the morons posting never stepped out of their neighbourhood. What do you expect. Like fry in a pond with no perception of the world.
I have been up on Victoria peak and it is beautiful. My vacation in HK was an education about free markets. It makes the US look like the communist country it has become. The only issue was the smog from inland China. The smog issue was the deciding factor of not moving there. But other than that, Hong Kong is a very nice place with very respectful nice people. Also, correct me if I'm wrong,but i think there are no property taxes after the house is bought.
Chinks!
Chinks with slaves!
mofo who woould have his head bashed ISIS sytle if he said that on the street.!!!
How many NWO slaves will it fit?
you'll fit in the dungeon dun worry.
That isn't a home, that is a mountain top compound.
If it's in HK, it's not worth $1million. Hong Kong's govt will be taken over by the communist chinese territory soon.
Also, ISIS of Iraq just placed china #1 on the target list for liberation.
pretty obvious you have absolutely no frigging idea what you are talking about!
HONG KONG is a free port with free capital control. Its basically New York based in Asia. For those that have no idea!
But...... it's fucking hideous.
This is clear evidence that the Visigoths are about to storm the city and lay waste to everything in their path.
Barely as large as your average semi-rural, American McMansion. A relative has a 4500 sq ft house after he finished out most of the basement. Small pool, too. This has three bubble mindsets pumping it: 1) City dwellers are idiots who pay many times for a smaller place. But look at the view!!! 20 The Chinese over value real estate to absurdity. 3) HK is a wealthy city full of people who live in 8ft x 6ft shoeboxes. Hong Kong TV has ads that often use the theme of "Just because we have small homes, that doesn't mean that they cannot be..." ìnsert sales copy at the end.
If you share an apartment after college, you have more living space than nearly anyone in Hong Kong.
Remember that when you walk the malls of IFC and look at all the apparently well-off, upper middle class, office workers.
They live in a closet. Or worse. And they paid a million USD for the privilege.
Everytime I visit HK I think "I should live here" then I remember that I don't have the deca-millions to live in something sane, and that I would be living in a broom closet. So I just visit. I especially like the airport check-in that is downtown BEFORE you board the MRT to the airport.
not entirely true. There are many houses outside of the city and they are sizable. Prices are not cheap, but if you live and work in this city, like all others, there are the poor, middle class, upper middle class and uber rich and the super rich. Property for everyone in fact.
I have been to those neighbourhoods and the residents of Xiang Gang settle for far too little. Cramped, crowded and dirty - now if it were 1960 there would be an excuse.
But in 2014 with a per capita GDP greater than the USA?
Uh,no.
Even the nice hotel rooms are cramped.
22K per square foot. Jesus on a pogo stick, in 1962 my parents paid 22K for the 1400 square foot house in which I grew up.
That place looks like a cosmetic surgery center in beverly hills.