Price a 79th floor of skyscraper building in Hong Kong downtown, owner by Li Ka-shing which has been sold for 338 million Hong Kong dollars or about 44 million U.S. dollars a square foot is the first historical record of commercial property prices in Hong Kong.
According to Hong Kong government data, the 79th floor unit has been sold at the end of this October to Excel Fine Holdings, the local news said that the funds originated from Korean investment fund. Peter Chan, senior regional sales director of Hong Kong's largest property agency, said that the commercial real estate prices will continue to soar during the next six months, especially in south China region, even going beyond the level of this great transaction.
According to Colliers International review, Hong Kong is now showing the top most expensive office rents at 161 U.S. dollars per square foot for the first half of 2010. Global Office Real Estate review noted London as the second position at 130 dollars a square foot, followed by Tokyo at 101 dollars.
According to Peter Mitchell, head of Asia Pacific Real Estate Association, Hong Kong also became a contributor to four of the ten largest commercial real estate transactions in the Asia-Pacific during the third quarter.
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