CASTLES® MAGAZINE

INTERNATIONAL LUXURY BROKER NETWORK

Most expensive property in Hong Kong for sale for $487 million

Built in 1991 and in a privileged location, colonial-styled 24 Middle Gap Road, sits on top of Victoria Peak, one of the most expensive and exclusive neighborhoods in the world, making it a coveted address. Its raised location offers stunning views of the skyline and a release from the city streets. It boasts views of the sea to the south, the Deep Water Bay, the hilly landscape of the Peak, and the forest.

It occupies 16,330 square feet of land and features an outdoor swimming pool, two parking spaces, and is surrounded by thick forests. When entering the home, there is a light-filled entryway covered in plants. It includes, as well, four and a half bathrooms, a fully fitted and equipped kitchen, a separate living and dining area, a smaller dining area that overlooks the swimming pool, one staff room, and central air-conditioning.

The surprisingly modest 4-bedroom property is only 10 minutes away from the business center in Hong Kong. It could break the record as the most expensive home ever sold in the world’s most expensive housing market, and potentially all of Asia. Given that the house is quite old, buyers would potentially build a newer property.

Hong Kong, where property prices continue to soar, particularly in the luxury market, has been named the least affordable housing market for 8 years in a row. The Peak is one of the most expensive residential neighborhoods, home to bankers, expatriates, business magnates, celebrities, and Chinese millionaires and billionaires.

The Middle Gap Road house was first available for lease and then went on the market in April 2018. Currently, it is owned by Chuang’s Consortium International Ltd, who purchased it in 2004 for only HK$142 million.

For the full listing click here!