Two penthouses in Hong Kong were each put on sale for a record US$38.5 million, a developer said yesterday, as demand from wealthy Chinese buyers has sent prices in the city soaring.
Sun Hung Kai, the world's largest developer by market value, said it raised the asking price by 20% for the 4,000 square feet penthouses on top of the Cullinan twin towers, Hong Kong's tallest residential development.
The properties will be the city's most expensive apartments if they are sold at the HK$300 million asking price, which translates into $75,000 per square foot.
The penthouses, on the 91st to 93rd floor of the 270-metre (886-feet) towers,have their own outdoor garden and swimming pool.
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