A Mainland Chinese buyer interested in purchasing a mansion at 45 Barker Road on The Peak is reportedly willing to pay HK$1.2 billion (US$153 million) for the property. If the deal comes through, it would set a new real estate per square foot record in Asia of HK$255,000 (US$32,400).

According to a Bloomberg report, the property is a four-storey detached villa with a total floor area of 4,700 square feet. A report by the Hong Kong Economic Times states that the mansion, which has views of Victoria Harbour, was originally owned by Hong Kong businessman Haking Wong. It was sold to CSI Properties Ltd. in 2011, which rebuilt the property but kept some elements from the original structure.

The current Asia per square foot record is HK$140,800, which was set when an apartment at the Mount Nicholson project, also on The Peak, sold for HK$640 million ($82.2 million) in 2021.

The news comes after Hong Kong was named the most unaffordable housing market in the world for the 13th straight year, according to a recent report released by Demographia, which surveyed 94 markets across eight countries.

Header image credits: Google Maps

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From the Middle East to the Far East and a couple of places in between, Anjali has lived in no fewer than seven cities in Asia, and has travelled extensively in the region. She worked as a lifestyle journalist in India before coming to Hong Kong, where her favourite thing to do is island-hopping with her daughter. You can check out her musings on motherhood, courtesy her Instagram profile.

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