香港

China slowdown tests limit of property market

The views it offers across Hong Kong’s famous harbour are stunning but it is the price tag attached to the city’s newest luxury apartment block that is creating the bigger stir.

Each of the 12 Frank Gehry-designed apartments in the Opus development is expected to be priced by developer Swire Properties at more than HK$450m ($58m), a record even in a city where the average home price was the highest in the world last year.

At an estimated $9,000 per square foot, Opus aspires to be in the same league as ultra-luxury developments in London and Manhattan such as One Hyde Park and 15 Central Park West.

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