Most Expensive Apartment in Asia

The “most expensive apartment in Asia,” has apparently been sold in just hours. Hong Kong developer Henderson Land, announced that the apartment in 39, Conduit Road was going up for sale just a few days ago. and it has immediately sold for a record price.

A little confusion surrounds the sale, which is starting to look like yet another attempt tp talk up a stagnant market. We understood the luxury apartment in Hong Kong was 5,635 square foot and offered for sale at $46.2 million. After the sale, the Albuquerque Express puts the size at 6,158 square foot, and the sales price at $439 million HK, which translates as $56.6 million US.

MSN money puts the sale at $61 million, and does not know the size other than “each square foot of the property costs $9993,” which would put it at 6,104 square feet – they are not sure if this is US or HK dollars; the BBC puts it at $57 million and a per square foot price of $9,200. So, the best we have so far is $61 million. Any advance on $61 million?

The buyer is as yet un-named, although I understand it is a HK-registered company. According to SINA, a Chinese blogging community, China’s GDP is set to grow 7% in the first three quarters, so it presumably was a mainland Chinese. The Chinese government Inc pumped around $600 billion US in to the $3 trillion US economy, so 7% sounds like a pretty poor return on investment. But it appears a few million will end up in Hong Kong’s luxury apartment market. Somewhere between $46 and $61 million by the sound of things.