New Luxury Apartments in Hong Kong Are Selling for Record Prices

Luxury apartments at new developments in Hong Kong are selling for record prices, another sign of the market's recovery since the beginning of this year. On Wednesday, three apartments in three different projects sold for a combined HK$334 million (US$42.6 million).

In Tai Tam, developer Chinachem sold a 2,773-square-foot, four-bedroom home at Redhill Peninsula for HK$90 million. In Ho Man Tin, St. George's Mansions, jointly developed by Sino Land and CLP, sold a 2,140-square-foot, four-bedroom apartment for HK$119 million. And in Kai Tai, Longfor's Upper River Bank sold a four-bedroom duplex for HK$125 million.

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