HONG KONG: Hong Kong may be in its worst recession in years, but its luxury property market is still booming after a five-bedroom apartment broke its قیمت 59 million record.
Although far more expensive properties have been sold in Hong Kong, the 3,378-square-foot penthouse in the mid-tier neighborhood has set a new standard for a square foot price of 17 17,500.
HK’s ڈالر 459.4 million sales, reported by local media on Wednesday, and recorded in the transaction’s development entry, show severe inequality in Hong Kong.
Recent political instability, coupled with the Corona virus, has hurt the economy, which hit a record 6.1 percent last year. Unemployment is currently at 6.6%, the highest in 16 years.
But the sale of Bell Weather’s luxury property shows that the super-rich are recovering from the storm.
21 BORITE ROAD – Unknown buyers paid for the property on a newly built luxury apartment tower, beating the previous record for every square foot set in 2017.
And it came a week after the consortium set a new record when it paid 35,935.2 million – or 6,450 square feet – for a piece of land on Peak, the mountain that dominates Hong Kong Island. Of course, this is the most special palace in the city.
Hong Kong is a city of contradictions. Where poor old people can be seen collecting cardboard to recycle on the streets full of super cars and luxury goods shops.
The narrow physical center regularly tops the various rankings of the world’s least affordable cities, with even the cheapest apartments out of reach of most workers.
Successive governments have failed to deal with inequality or housing shortages, which have helped to promote strong demonstrations of democracy in recent years.
A 2019 report by real estate firm CBRE named Hong Kong as the most expensive city for residential property, with an average price of 2,091 per square foot.
It listed the average property value in Hong Kong as 1. 1.2 million. That’s دوسرے 874,372, second only to Singapore.
A UBS report this year said a “skilled worker” needed 22 years of income to afford a 60-square-meter (645-square-foot) flat, up from 12 a decade ago. Is, whose salaries have remained largely the same since 2008. .
But the richest have seen their fortunes grow.
According to Knight Frank’s Global Wealth Report, the number of billionaires in Hong Kong has increased from 40 in 2013 to 71 in 2019, giving the city the highest rate of per capita billionaires in the world.