The list of most expensive homes for sale in the world is ever-changing. The Robb Report reported that a penthouse in New York City’s Central Park Tower was the most expensive. It cost USD 250 million. However, several publications ranked the Holme, a palatial 40-bedroom waterfront residence, as the top offering. The next month numerous publications put the Holme, a palatial 40-bedroom waterfront residence in London, ahead of that at USD 300 million.
No matter the pecking order, however, the locations of these ultraexpensive residences remain fairly select–Dubai, Hong Kong and Australia.
Ensconced in these upper echelons is a mega-mansion along Hong Kong’s Repulse Bay Road priced at HKD 2.2 billion or about USD 281 million.
“This mansion is amongst the most expensive properties within the city,” says Letizia G. Casalino, executive director at real estate company OKAY.com. “There aren’t many with this price tag.”
Contributing to the cost is the size. The size of the home is a major factor in its cost. The elevator provides access to all five floors.
In addition to terraces, garden and rooftop, the mansion’s backyard patio can accommodate more than 100 guests for large-scale events. An elevator accesses all five floors.
In addition to the terraces, garden and rooftop, the mansion’s backyard patio can accommodate more than 100 guests for large-scale events.
Also bolstering the asking price is the prime location, Casalino says. “Within the Southern District, the price per square foot has been quite steady within HKD 90 to HKD 120.” Beaches and shopping are within walking distance.
The brand new mansion was constructed in 2019, before the Hong Kong protests and rise of COVID-19, to appeal to the ultrahigh-net-worth buyer. “It was built when a number of mainland Chinese buyers, such as Jack Ma or Pony Ma, bought this type of trophy house,” she says.
In Hong Kong’s current more challenging ultraluxury market, Casalino sees the potential for a wider buyer pool. The target market is not only mainland Chinese but also ultrawealthy Hong Kong family. Arched windows and decorative details soften the symmetrical facade. Arched windows and decorative details soften the symmetrical facade.
the beaches and shopping plaza.