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Luxury flat in HK sets new world price record

(Xinhua)
Updated: 2009-10-15 14:33

HONG KONG: A luxury flat in Hong Kong has set the new world record by fetching a price of about HK$767,000 (US$113,900) per square meter, local media reported Thursday.

The luxury duplex located on the 68th floor, which has five bedrooms and a total floor area of 572 square meters (6,158 square feet), was sold for HK$439 million (US$56.3 million), developer Henderson Land said Wednesday.

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In terms of salable area, the price was about US$121,000 per square meter, the South China Morning Post reported.

A luxury flat in London had set the previous world record at 6,000 pounds for each square foot of salable area (US$105,090 per square meter).

Luxury flats in the same project in West Mid-Levels, Hong Kong, have been fetching stunning prices in recent days. Another flat on the same floor with a floor area of 571 square meters went for HK$397 million (US$50.9 million).

The real estate prices in Hong Kong was now back at their mid-2008 level after a brief period correction amid the global economic downturn, but they were still below the peak prices recorded in 1997. Luxury flats, however, were more expensive.