With their much sought-after ocean views, wealthy Hong Kongers have been ready to pay almost any price for so-called trophy houses on the Peak and along Repulse Bay Road.
In the past year, a number of luxury properties have sold for hundreds of millions of dollars each, making them the most expensive houses in the world.
In May, New World Development bought the Hotung family mansion on the Peak for $728.88 million, or almost $21,000 per square foot.
Six months earlier, Pearl Oriental Holdings chairman Wong Kwan stunned the market and grabbed international headlines when he bought two properties for a total of about $1 billion in the space of a few weeks.
In November, the company bought Skyhigh in Pollock's Path for $375 million, or $19,000 per sq ft.
That was quickly followed by the purchase of Genesis, a 28,000 sq ft property in Severn Road, for $540 million, or $19,285 per sq ft.
