(Bloomberg) -- A luxury home in Hong Kong's exclusive Peak neighborhood sold for HK$1.16 billion ($149 million), Wheelock Properties Ltd. said.
The four-bedroom, 9,178 square foot (853 square meter) house boasts a swimming pool, elevator, garden and unobstructed views of Hong Kong and Victoria Harbour. The price per square foot was HK$126,813, the most paid for a unit in the development, Wheelock said. It didn't identify the buyer.
Soaring home prices have put Hong Kong in bubble risk territory as local and foreign investors pile in, making a “mild correction” likely, according to the UBS Global Real Estate Bubble Index. Secondary residential prices have climbed 11 percent in the past 12 months according to Centaline Property Agency.
The total price for the home, designed by the London-based David Collins Studio and sold fully furnished by tender, was the highest of 11 villas sold, Wheelock said. The company partnered with Nan Fung Development Ltd. for the development.
The three-story building comes with a two-car parking lot, a master bedroom with two separate dressing rooms and en-suite baths, cooking appliances by Gaggenau and a home automation system that can be controlled by smartphone.
A home on the Peak sold for HK$2.1 billion last year, a record for the city, according to the South China Morning Post.
To contact the reporter on this story: Frederik Balfour in Hong Kong at fbalfour@bloomberg.net.
To contact the editors responsible for this story: Sree Vidya Bhaktavatsalam at sbhaktavatsa@bloomberg.net, Paul Panckhurst, Sam Mamudi
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