Hong Kong’s luxury property market continues to post record numbers with the latest leasing contract.
A 10,804 square foot home in the city’s wealthiest district was rented out for HK$1.35 million per month, according to a statement from local developer Wharf Holdings.
This is a record figure, according to a Bloomberg report citing real estate agency Centaline.
The house overlooks the Victoria Harbor and comes with a private garage, garden and internal elevator. Wharf has seven of these units in the area with plans to sell four and lease the rest.
The unnamed tenant marks the second anonymous record-setter in weeks for Hong Kong’s property market.
Last month, a 3,378 square foot home in the same district sold for a record figure of nearly $60 million.
Despite political uncertainty and an ongoing pandemic, Hong Kong continues to top rankings as the most expensive property market. According to a recent think tank report, the city’s homes were the least affordable worldwide for the 11th consecutive year.
