Hong Kong property

What can you buy for US$149 million? Playboy Mansion, Beyoncé’s home or 2 HK flats

For US$149m a range of desirable properties can be bought across the world

PUBLISHED : Tuesday, 21 November, 2017, 6:42pm
UPDATED : Tuesday, 21 November, 2017, 11:36pm

Hong Kong’s housing was once again crowned the most expensive in the world with an unidentified buyer paying HK$1.16 billion or US$149 million for two four-bedroom apartments at Mount Nicholson on The Peak.

The buyer paid HK$560 million for a unit measuring 4,242 square foot, or about HK$132,000 per square foot. In square footage terms, it is the most expensive residence in Asia.

The same buyer also paid HK$600 million, or HK$131,000 per square foot, for a 4,579 sq ft unit at Mount Nicholson, according to Wheelock Properties, which oversees sales of the joint project between Wheelock & Co and Nan Fung Development.

Hong Kong’s US$149 million flats grab the crown as Asia’s priciest address

The transactions at Mount Nicholson, which has 19 detached houses and 48 flats over three phases, broke the city’s previous price record set in September, when an investor paid HK$105,000 per square foot for a HK$522 million duplex penthouse at Henderson Land Development’s 39 Conduit Road project at the Mid-Levels.

Hong Kong’s private home prices have increased by 430 per cent since 2003, making it the world’s most expensive urban centre among 406 cities to buy a home in, according to the Demographia International Housing Affordability Survey.

Clara Chu, senior director of residential services at Colliers International, said the property is attractive partly because most purchasers in Mount Nicholson are celebrities, such as Angela Leong On-kei, the fourth wife of Macau casino tycoon Stanley Ho Hung-sun.

However, property consultants said buyers can own bigger luxury properties in other places around the world for a smaller price tag, and have celebrities as neighbours.

Hong Kong’s property cartel is pushing wealth inequality to the brink

According to luxury property agent Christie’s International Real Estate, US$100 million can fetch a home with average of between 10-20 bedrooms ranging in size from 10,000 to 50,000 sq ft and fitted with the finest amenities and lifestyle features.

Here are some of the properties you can buy:

1. US$154 million – Taohuayuan (Utopia), Suzhou

If you are looking for Utopia or Taohuayuan – it can be found in Suzhou, China. It recently set a record for the most expensive property on the mainland with an asking price of 1 billion Chinese yuan, or US$154 million.

2. US$105 million – Playboy Mansion, California

Despite rumours Twinkie heir Daren Metropoulos was backing out of the deal, he bought the Playboy Mansion in August last year. Metropoulos had plans to fully renovate the 22,000 square foot property.

3. US$100 million – Exumas, Bahamas

A 70,000 sq ft luxury home in the Exumas not only comes with 20 bedrooms, but also a private island with a deep water harbour and marina.

4. US$88 million – Beyoncé and Jay-Z’s Bel Air Mansion in Los Angeles

Earlier this year, music superstars Beyoncé and Jay-Z reportedly paid US$88 million for a mansion in the exclusive Bel Air area.The multi-level residence has 30,000 sq ft of interior space and more than 10,000 square feet of outdoor living area. There are eight bedrooms, 11 bathrooms, four swimming pools, a basketball court, garage for up to 15 cars and separate staff quarters.