Wheelock property on Mt Nicholson reclaims title for the most expensive flat in Asia in terms of square footage
- Flat 16D and three car parking spaces on Mount Nicholson sold for HK$639.796 million, or HK$140,800 per square foot, a record in Asia
- The bumper price came right after news that Hong Kong’s border with mainland China will likely reopen as early as next month
A flat in Wheelock’s ultra luxury residential property Mount Nicholson at The Peak has sold at a new record price per square foot in Asia, with analysts saying an expected reopening of Hong Kong’s border with mainland China will likely boost the city’s real estate market.
The developer sold flats 16C and 16D at phase three of Mount Nicholson for a combined HK$1.2 billion (US$154 million) to the same buyers, Wheelock said in a statement on Tuesday, without disclosing the identity of the buyers.
Flat 16D and three car parking spaces at Mount Nicholson were sold for HK$639.796 million, or HK$140,800 per square foot, breaking the record held by a flat in CK Asset Holding’s 21 Borrett Road luxury resident project, which also came with three parking spaces and was sold for HK$459.4 million – or HK$136,000 per square foot – in February.
The price for flat 16C stood at HK$560.92 million, or HK$134,000 per square foot, which was only slightly lower than the previous record at Borrett Road.
The bumper price indicates Hong Kong’s luxury properties remain extremely sought-after by buyers even though the overall economy has not recovered from the impact of the pandemic last year and months of social unrest since mid-2019.
