The list of most expensive homes for sale in the world is ever-changing. In February, the Robb Report said a penthouse atop New York City’s Central Park Tower, priced at USD 250 million, topped the offerings. 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 gross square footage of interior and exterior space totals 18,274. There are 11 bedrooms and 11 bathrooms. 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. “Tycoons from all over the world but the target is mainland Chinese or perhaps ultrawealthy Hong Kong families. It will probably be for a large family or a family who can host a number of events within the property.” The mansion’s exterior walls are clad in natural stone. Arched windows and decorative details soften the symmetrical façade.
Interior details include two grand staircases, marble floors and black casement windows. An automatic gated entrance ensures security with the garage and driveway accessible from inside.
Joshua Miller of OKAY.com is one of the agents representing the property.