RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Hong Kong homes most expensive for billionaires

Homes purchased by billionaires in Hong Kong cost $10,360 a square foot, or double the price paid by billionaires in London.

A Bloomberg report said, “Homes bought by billionaires in Hong Kong cost 6,700 pounds ($10,360) a square foot at the end of June, a 10 percent climb from six months earlier, London-based Savills said in an e- mailed statement."

According to Savills, that compares with 5,190 pounds in Tokyo, 3,270 pounds in Paris and 3,090 pounds in London. The survey revealed Hong Kong has the world’s most expensive average home prices for billionaires.

Meanwhile the 10 most expensive cities in the survey saw prices of those homes rise by an average 10 percent in the first half. "Sydney, which had the lowest value among top 10 markets, posted the biggest price gain, jumping 40 percent," noted the report.

View the report here.

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