A site on The Peak fetched the third-highest land price in the city's history yesterday, underscoring the continued strength of the luxury residential market.
Nan Fung Development and The Wharf (Holdings) (SEHK: 0004) paid HK$10.4 billion in an auction for the site at 103 Mount Nicholson Road - HK$32,014 per square foot
Click HERE to see a google map - for all of you overseas folk - please notice all of the green stuff! Those are trees! Often peoples perception of HK is that we don't have any!
Including yesterday's sale, the HK government has generated HK$26.05 billion from land sales since the start of the financial year in April. Its target is HK$34.1 billion. The government will sell four commercial and residential sites worth more than HK$7 billion next month.
EXCHANGE RATE................................................US$ 1 = HK$ 7.8
You do the maths! I think I might be in the right city!
Cheers - Stella Abraham, REALTOR