156,000 euros per m2! Hong Kong apartment breaks new record

For the price of a single square meter of this property, you can afford an entire apartment in France… A new apartment of 313 square meters has just been sold for the equivalent of 49 million euros in Hong Kong, ie a price record 156,000 euros per m2, local media reported on Wednesday.

Although the territory is going through its worst recession in many years, its real estate market will continue to prosper.

The apartment is located in a luxurious residence.

ANTHONY WALLACE

This five-bedroom apartment in the heights of Mid-Levels, a popular district of Hong Kong Island, was purchased according to the transaction register for 459.4 million Hong Kong dollars, which is not a record in itself. for real estate.

But its price per square meter is unprecedented, and once again illustrates the differences in wealth in the former British colony.

Hong Kong's super-rich don't know the crisis

Already battered by months of protests in 2019, the Hong Kong economy has taken the full brunt of the impact of the pandemic and the closing of borders.

The GDP of the semi-autonomous region of China contracted by 6.1% in 2020, a record, and the unemployment rate currently stands at 6.6%, the highest level in 16 years.

Hong Kong is a city of striking contrasts.

An extravagant concentration of luxury cars thus rub shoulders in its streets with elderly people collecting pieces of cardboard on trolleys to recycle them.

And this real estate sale tends to confirm that the super-rich in Hong Kong are not experiencing the crisis.

The price per square meter paid by this unidentified buyer for this property located at 21 Borrett Road, in a brand new residence, broke a previous record dating from 2017.