Hong Kong can no longer boast of having the world's most expensive apartment after the collapse of a $57m sale, in a sign that the territory's property market is cooling.
The prospective buyer of the penthouse at 39 Conduit Road in the heart of the city also failed to complete five other purchases in the building, according to Henderson Land, which developed the property.
The company said 20 transactions had been cancelled, a huge embarrassment for Lee Shau-kee, Henderson's chairman.
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