A Hong Kong property developer has sold a duplex apartment for a world record price, less than three months after the territory technically emerged from recession.
Henderson Land, controlled by tycoon Lee Shau-kee, said it had sold the property on Hong Kong island for HK$71,280 (US$9,200) per square foot, or HK$439m, to a buyer from mainland China.
News of Wednesday's sale came just hours after Donald Tsang, Hong Kong's chief executive, echoed concerns “about the supply of flats, difficulty in purchasing a home and the possibility of a property bubble” in his annual policy address to legislators.
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