Friday
October 31, 2014

The Priciest Home in the World

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The Priciest Home in the World

A home in Hong Kong is being listed for the equivalent of $105.7 million in U.S. currency, but it’s the price per square foot that has the world talking.

The home would cost $22,677 per square foot if it sells at its current price, making it the world’s most expensive home ever sold on a per-square-foot basis, The Wall Street Journal reports. It would also be the priciest home ever sold in Hong Kong.

Meet what could become the most expensive pocket listing ever.

The 4,661-square-foot home features four bedrooms, a private pool, a garden, rooftop terrace, and a carport that can accommodate two cars. The home is located in the new Twelve Peaks development within the city’s exclusive Victoria Peak neighborhood.

The home's developer, Sun Hung Kai Properties, has offered any fast-acting buyer a 3 percent discount if a deal is made within five months. Discounts are becoming more common in Hong Kong as developers try to revive recent sluggish demand for new homes lately, The Wall Street Journal reports.

How does the house compare to U.S. real estate prices? Forbes recently spotlighted the most expensive homes listed for-sale in the U.S., with the Owlwood Estate in Holmby Hills, Calif., currently leading at an asking price of $150 million for a 13,000-square-foot mansion on 10 acres.

Source: “World’s Most Expensive Home Per Square Foot Goes on Sale,” The Wall Street Journal (Aug. 8, 2014) and “The Most Expensive Houses for Sale in America,” Forbes.com (August 2014)