Luxury home at Mount Nicholson sells for $577.4m

The purchase price translates to $82,000 per square foot.

House 12 at the Mount Nicholson project on The Peak was sold for $577.4m or $82,000 per square foot (sq ft).

According to data from Savills, House 12 spans 7,042 square feet (sq ft) with a 2,751 sq ft garden and a 1,970 sq ft terrace.

Publicly available data showed that the unnamed buyer of the property paid 5% of the purchase price on the signing of the Preliminary Agreement for Sale and Purchase (PASP).

The buyer will further deposit 5% of the purchase price upon the signing of the ASP.

The remaining 90% of the purchase price will be paid by the buyer on or before the 74th day after the date of PASP.