Luxury Houses – multimillion-dollar sale of land for Hong Kong

ll real estate in the world, to judge the news that you are proposing in recent weeks, it seems far from a crisis. We have written previously record sales. The last in order of time comes from Hong Kong. A plot of ground has been sold for the astronomical sum of $ 1,820,000 of Hong Kong amounted to U.S. $ 233,000,000). Approximately $ 8.720 per square meter. A price well above market expectations, a record for a sale of land to residential Luxury, Returns it to the auction houses Jones Lang LaSalle.

The purchaser of this lot, Which has paid the sum, 82 years old, and the tycoon Lee Shau Kee-that. The piece, called Falconridge, Was auctioned by Hui-Sai, Another Hong Kong tycoon. Mr Lee’s son Martin told reporters after ‘auction that the family is now planning build three or four luxury villas.

The sale shows that the price of luxury land in Hong Kong are soaring with no intention of slowing down. The government, with intentions antispeculative designed to reduce the risk bubble, has made various efforts to control prices, including the imposition of taxes on luxury properties. But this sale seems to demonstrate that the effects are not perceptible.

If we think of only $ 8,000 per square meter for land, we dare not imagine what will be sold to the apartments or houses to be built. Figures could also be increased tenfold.