HONG KONG (AP) — A luxury Hong Kong apartment in a Frank Gehry-designed building has sold for an eyepopping price of nearly $60 million, the property developer said today, the latest sign of the city’s overheated housing market.
Swire Properties Ltd. said it sold the 6,683-square-foot apartment on the ninth floor of its Opus development for $58.7 million. It did not say who the buyer was.
Local property agents said it was the highest price ever paid for an apartment in the southern Chinese financial center. The sale comes amid growing concern over surging property prices in Hong Kong driven by ultra-low interest rates and an influx of wealthy mainland Chinese buyers. Prices have doubled since the end of the global financial crisis in 2009, according to a widely watched index.
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