The appeal of real estate ownership in Hong Kong is well documented. The stability and the free-market openness of the SAR is a huge draw for owner-occupiers as well as investors. It’s hardly surprising to learn that news channels recently were abuzz with the some ‘hot’ property news. It seems that e-commerce wizard, Jack Ma, chairman of the Alibaba Group has joined the club of affluent folk who live atop Hong Kong’s loftiest locale, the Victoria Peak. Ma recently dropped a cool HK$ 1.5 billion (US $193 billion) to acquire a home in the much-coveted district.
The reports go on to state that Jack Ma paid HK $151,653(US$19,500) per saleable square foot for a three-story mansion located at 22 Barker Road.
Ma’s acquisition is currently the second-most expensive home purchase in the world by price per square foot.
The title of the most expensive house in the world currently belongs to a villa that was, in fact, sold by Engel and Volkers for approximately 120 million euros. The said pricey villa is located on the Avenue Claude Vignon on the Saint Jean Cap Ferrat Peninsula, east of Nice. It extends over approximately 600 square meters. Its sale price thus, garnered a square meter price of 200,000 euros or HK$175,000 per square foot. The house is currently the most expensive residential property registered by Engel and Volkers.