In Hong Kong, sold the house for record price

29.09.2010 14:25
Property News | In Hong Kong, sold the house for record price A three-storey mansion was bought at a price of 709 thousand Hong Kong dollars ($ 91 thousand) for the quarter. m, which is an absolute record for the local property market. The experts have once again talked about "overheating" of the market. Sunbeam House mansion five area 395 square meters. m is located in a prestigious area Repulse Bay Road. It was sold to the son of one of the local developers. The total transaction value amounted to 280 million Hong Kong dollars ($ 36 million), reported dpa.

Recall that in June this year in Hong Kong fell through the deal to acquire apartments worth $ 57 million (almost $ 100 thousand for the quarter. M) - the buyer has already made a down payment of 5% of the total, for unknown reasons, declined to purchase the site . Likewise did those who entered into contracts for the purchase of 20 other apartments in the same building.

Related article: The volume of new housing in the suburbs to reach 7 million m

High rates of growth in housing prices in Hong Kong are due, primarily, a deficit (and hence high cost) of building plots. In June and July, two plots of land were sold at auction for $ 1.3 billion and $ 1.4 billion government plan to tackle this problem by draining part of the coastal shelf.

However, experts believe that the residential real estate in the region continue to grow in value. Knight Frank analysts predict that by 2011 its value will rise by 12%.
Content tags: Overseas property
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