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World's most expensive home for sale in Hong Kong

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The world's most expensive home has a "for sale" sign out front in Hong Kong. (Source: Twelve Peaks/Sun Hung Kai website screenshot) The world's most expensive home has a "for sale" sign out front in Hong Kong. (Source: Twelve Peaks/Sun Hung Kai website screenshot)

HONG KONG (RNN) – If you’re looking for affordable luxury housing, do not look in Hong Kong.

According to Wall Street Journal Asia, the world’s most expensive home, per square feet, is on the market in the elite Hong Kong neighborhood of Victoria Peak.

The home, developed by Sun Hung Kai Properties, is listed as House No. 1 at Twelve Peaks and is priced at a whopping $105.7 million, or HK819.1 million Hong Kong dollars.

The newly-built home boasts four bedrooms, a private pool, a two-car garage, a rooftop terrace and a garden in the 4,661-square foot home. The home would also have a gorgeous view of Victoria Harbor from Hong Kong's highest point, also known as Mount Austin or to locals as The Peak.

The prospective homeowner would be purchasing the home at $22,670.20 per square foot.

Also located on Victoria Peak is the current most expensive home ever bought – a 5,989-square foot home that cost $103.2 million, or HK$800 million – was sold in 2011.

Sun Hung Kai Properties, who says they are “building homes with heart,” is Hong Kong’s second-biggest developer by market value, according to Bloomberg.

According to the Twelve Peaks’ price list, a potential buyer will also have to pay a 5 percent down payment as part of a preliminary agreement.

An added bonus to those seeking upscale living in the bustling region of China, WSJ Asia says a buyer who makes an offer for the home in the first five months will receive a 3 percent discount. The property developers are also offering an “early-bird buyer an 11.75 percent rebate.”

These discounts come courtesy of slumping real estate numbers across Asia, especially in markets with numerous luxury real estate properties.

If you’re looking for something a little cheaper, auctioneers Sotheby’s has several homes in Hong Kong listed on its website.

Follow me on Twitter @TanitaG_RNN.

Copyright 2014 Raycom News Network. All rights reserved.

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