Record in Hong Kong land sold for $ 3 billion

This is the most expensive real estate market.

An international consortium, which includes the company Sino Land Co paid a record $ 3 billion. for a plot of land for residential development in Hong Kong.

The housing market of Hong Kong is the most expensive in the world, continues to set new maximum values, even against the background of predictions about the softening of prices due to increased interest rates.

Commercial properties in Hong Kong, rents for which are holding the leading position in the world, is also in demand.

The plot sold for a record price, is located in Kowloon, the historic district of Hong Kong, and has an area of 91 thousand sqm 770

According to the Director of property research in Hong Kong and China, CIMB Securities Ltd. Raymond Cheng, at a cost of land of 24 thousand dollars. per sq ft estimated selling price in 3-4 years will amount to 41 thousand from $ 180. to 45 thousand us $ 270. Despite the fact that more recently, market expectations ranged from 19 thousand 200 – 24 thousand 730 dollars. per sq. m.

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