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February 17, 2021

A luxury apartment in CK Asset Holdings’ 21 Borrett Road residential project was just sold for $59 million, setting a new record for the highest price per square foot paid in a home sale in Asia

Properties in Hong Kong are among the priciest in the world, and a luxury apartment in Mid-Levels—one of the city’s most upscale residential neighbourhoods—has now been crowned the most expensive in Asia. The apartment, which is known as part of the 21 Borrett Road luxury residential project by Hong Kong tycoon Victor Li’s CK Asset Holdings, was sold for a record-breaking $59 million (HK$459 million) to an unidentified buyer on Monday, as first reported by Bloomberg.

Sitting on the 23rd floor of the 21 Borrett Road project, the 3,378 square-foot flat comes with five bedrooms and various lavish amenities, including a swimming pool, a private terrace, as well as three parking spaces.

With a flat price of HK$136,000 per square foot, the flat is touted to be Asia’s most expensive residence in terms of cost per square foot, which has broken the record held by another luxury development in Mount Nicholson in 2017. The purchase also signals the recovery trend of Hong Kong’s luxury housing market amidst the pandemic.