[Bubbling up] Hong Kong apartment sells for $56.5 Million
If you're looking for the next bubble in real estate, you don't have to look further than across the Pacific to Hong Kong where an apartment on the second highest floor sold for $56.5 million USD. The total square footage of the apartment including a 340 square foot garden was 6158 square feet and sold for a record price of 71,289 Hong Kong dollars per square foot.
The NY Times reports that the sale came just hours after Hong Kong's chief executive, Donald Tsang, said that the city might be facing a real estate bubble. The record price might not last too long because the seller, Henderson Land, is expecting to price the penthouse in the same building at 100,000 Hong Kong dollars.
You can read more about this sale and the fascinating Hong Kong real estate market in an article by Keith Bradsher writing for the NY Times.
Now back to real life in Charleston or at least the luxury Charleston real estate market.
There are 3 properties for sale in Historic Downtown Charleston currently listed for over $10 million. Any sale would likely set a new record for real estate prices on the Peninsula eclipsing the current record of $7.375 Million.
Please let me know how I can help you with your Charleston real estate needs whether you are looking for the finest luxury Charleston real estate or a just a nice home for your family anywhere in the Charleston area.