# Most expensive condos on Earth



## cbotnyse (Jun 13, 2007)

anybody else have some links? I'd like to see some expensive condos from Hong Kong or places like Dubai. (although I realize those are probably being built right now)


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## pilotos (Jan 24, 2007)

Here is a list about European cities, by the Global Property Guide, it's about the average price though.

List


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## cbotnyse (Jun 13, 2007)

pilotos said:


> Here is a list about European cities, by the Global Property Guide, it's about the average price though.
> 
> List


wow, thanks for the link. I cant believe how expensive prime London and Monaco are...I'd love to see the best of what those cities have on the market.


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## Rachmaninov (Aug 5, 2004)

_00_deathscar said:


> The most expensive in Hong Kong as far as I'm aware was the penthouse atop the Arch, unless there's some more expensive ones on the Peak that I'm aware of.


I reckon you are right if we are talking about the most expensive condo per square feet. It was sold for more than USD$4300 per square feet.


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## cbotnyse (Jun 13, 2007)

Rachmaninov said:


> I reckon you are right if we are talking about the most expensive condo per square feet. It was sold for more than USD$4300 per square feet.


that is insane! link? pics?


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## Ian (Nov 26, 2006)

Sorry ... What would be a "feet" in meters


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## _00_deathscar (Mar 16, 2005)

Rachmaninov said:


> I reckon you are right if we are talking about the most expensive condo per square feet. It was sold for more than USD$4300 per square feet.


Oops, meant to say unaware of. There may be a few by Mid-Levels and Repulse Bay too.

Actually, the Arch's record for condo/penthouse sold at highest per square feet was broken by one in the Legend (http://www.skyscrapercity.com/showthread.php?t=376365&page=2).

But as far as I know, the Arch's total price was the highest for a condo in HK, again, unless there's some hidden ones out there where the price is undisclosed that we're unaware of.



ctbotnyse said:


> that is insane! link? pics?


Here are two renderings of the penthouse atop the Arch (there are two identical ones I believe, not sure if the other one was sold):

Living room









Private pool and bedroom?









There are a couple more floating about on SSC, if you search for "hong kong", "arch", "render", you'll probably find them.


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## _00_deathscar (Mar 16, 2005)

airsound said:


> Sorry ... What would be a "feet" in meters


1 metric metre = approx 3.3 feet (or, as is more usually 'approximately' converted when generally speaking, 1 metre = 3 feet).

So one square metre = approximately over 9 square feet.


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## Rachmaninov (Aug 5, 2004)

_00_deathscar said:


> 1 metric metre = approx 3.3 feet (or, as is more usually 'approximately' converted when generally speaking, 1 metre = 3 feet).
> 
> So one square metre = approximately over 9 square feet.


1 square metre = Around 10.4 square feet


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## _00_deathscar (Mar 16, 2005)

"Around" 10.4 :lol:


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## [email protected] (May 7, 2007)

Nonsense. 
It is an idea like the Anglo-Saxon. 

In Tokyo, it is 30,000 dollars a month in a rental apartment.


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## _00_deathscar (Mar 16, 2005)

[email protected] said:


> Nonsense.
> It is an idea like the Anglo-Saxon.
> 
> In Tokyo, it is 30,000 dollars a month in a rental apartment.



What?


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## Rachmaninov (Aug 5, 2004)

^^ I don't understand that either...


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## [email protected] (May 7, 2007)

U.S.A. is a real estate bubble now. 
Do not you forget it?


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## _00_deathscar (Mar 16, 2005)

What?


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## Third of a kind (Jun 20, 2004)

the cost is one thing but what are the neighborhoods like with these expensive condos? what makes the area's so desirable..especially that one in London...over a hundred mill for one of those condos..nuts!


ps I think I finally made it to 1000 posts heh


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## cbotnyse (Jun 13, 2007)

awesome pics deathscar.....do you know how many square feet that place is?


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## _00_deathscar (Mar 16, 2005)

Third of a kind said:


> the cost is one thing but what are the neighborhoods like with these expensive condos? what makes the area's so desirable..especially that one in London...over a hundred mill for one of those condos..nuts!


Two major factors ~ 

Location: either it's proximity to city centre or as an isolated place - in this case, you won't find many 'record breaking' condos in isolated places such as random islands, where they are more likely to be mansions or rows of houses. Most expensive condos are generally very close to the city centre, if not directly in the city centre. 

Prestige: the reputation of the place - for example, generally speaking, if two identical condominium of similar size and attributes were to be hypothetically placed in two varying locations: one "new", and one "established" (in Hong Kong's case, say the 'new' one is in West Kowloon, and the established one is in the Peak), then the identical condominium located in the established neighbourhood would cost more, because it already has a 'name' and reputation. Of course, this doesn't always prove to be true as in the case with the Arch, but 9/10 this would be true.

The third factor, amenities of a complex or size of the apartment willl only go as far as increasing an already high price, which is generally set because of the two major factors.



cbotnyse said:


> awesome pics deathscar.....do you know how many square feet that place is?


It's around 3500 sq ft.


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## hkskyline (Sep 13, 2002)

I don't think Union Square and West Kowloon are desirable areas for the upper class. It's a newly reclaimed area with very few services nearby. A bus station sits across the street and poor people live a block away. There's a subway station right downstairs but that's pretty much it. Very few of the buildings have direct ocean views - only The Arch, Harbourside, and some of the Sorrento towers among the ones that have opened so far. It's too dense. The interior-facing units look at the next building's windows even at the 60th floor with barely a view. But then, the real estate companies can set extraordinary prices and people will still bite ... until the next market correction when the investors can no longer offload their units and clear their expensive mortgages.


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## Rachmaninov (Aug 5, 2004)

Latest news:

Sun Hung Kai Properties has sold a 5,497-square-foot penthouse at the Arch at Kowloon Station for HK$185 million, setting a record for a Hong Kong flat of HK$33,500 per square foot, the company said.

...Due to the record-breaking sale, Mr Lui said asking prices for the two penthouses at the forthcoming sale of the luxury Cullinan residential development at Kowloon Station, would be about HK$40,000 per square foot. 

from SCMP. See hkskyline's post at http://www.skyscrapercity.com/showthread.php?t=376365&page=4

(1 USD = about 7.78HKD)


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## LLoydGeorge (Jan 14, 2006)

From the 6 July 2007 on-line issue of Globest.com:

NYC Apartment Prices Achieve Record Levels 
By Natalie Dolce 

NEW YORK CITY-Led by strong condominium sales, the average price for Manhattan apartments reached $1.3 million in the second quarter of 2007, a new record, according to a second quarter market report by Brown Harris Stevens. The previous high was set during the second quarter of 2005. 

“The average price increased 7% from just three months ago,” notes Gregory Heym, chief economist for Brown Harris Stevens. “The median price also achieved a new record, reaching $840,000. This was 9% higher than the prior record, which was set in the first quarter of 2007.” 

The 3,469 sales closed in the second quarter were 31% higher than a year ago, according to the report. “While part of this increase is attributable to a 9% rise in the average size of condos sold, on a per-sf basis, the average condo price was still 15% higher than a year ago,” Heym says. “Also bolstering condo prices higher was strong activity in new developments, which accounted for just under half of all condo sales.” 
According to the report, the East Side has been driven by luxury apartment’s growth, which increased 23% when compared to the second quarter of 2006. In the West Side market, the average price of apartments also increased with the most significant gains seen in four-bedroom and larger apartments which rose 25% from the second quarter of 2006. Apartments of all sizes Downtown posted double-digit gains in average price when compared to the same period a year ago, led by the strength of new development condos. 

Demand remains strong, and apartment prices continue to rise in Manhattan, Heym explains. “The momentum in the marketplace that began at the end of 2006 continues to grow, fueled by a robust economy and record Wall Street bonuses,” he says. “With supply falling back from the high levels of last year, price growth should continue despite recent rises in long-term mortgage rates which still remain at historic lows.”


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## cbotnyse (Jun 13, 2007)

Rachmaninov said:


> Latest news:
> 
> Sun Hung Kai Properties has sold a 5,497-square-foot penthouse at the Arch at Kowloon Station for HK$185 million, setting a record for a Hong Kong flat of HK$33,500 per square foot, the company said.
> 
> ...


:eek2: 

That is 2.5 times as expensive as NYC's most expensive condo. I cant believe this hasn't made the news in the USA. Thats the most expensive home (not even condo) I've ever heard of.


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## superchan7 (Jan 21, 2004)

It's a common misconception in the US that Manhattan properties are the most expensive in the world (per unit area) simply because they are the most expensive in the US.


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## krull (Oct 8, 2005)

Well... $185,000,000.00 HKD = $23,663,946.38 USD

$33,500.00 HKD per square foot = $4,285.09 USD per square foot

That is nothing in Manhattan. There are way more properties that are worth more than $23 million in Manhattan. The last apartment went for $50 million. And some of those properties are way more on square foot.

Here is one that the condos are worth more than $6,000 per square foot....



> A luxurious new cornerstone at south end of Central Park
> At up to $6,000 a square foot, Stern's opulent design on Mayflower site lures bluebloods with greenbacks


http://www.wirednewyork.com/forum/showpost.php?p=72241&postcount=100


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## krull (Oct 8, 2005)

Here are more places in Manhattan...


*Putting the $50 M. Plaza Sale in Perspective*


by Mark Wellborn

As The Observer reported first last week, a condo at the renovated Plaza Hotel has gone to contract for at least $50 million, making it the biggest New York City apartment sale ever. It joins an exclusive club of city properties, one with a membership fee of at least $30 million and one that opened just in the last few years:

4 East 75th Street. J. Christopher Flowers bought the 20,100 square-foot Harkness Mansion in 2006 for $53 million.

15 Central Park West. Hedge fund manager Daniel Loeb purchased a 10-bedroom, 10,700-square-foot penthouse here in 2005 for $45 million.

834 Fifth Avenue. Rupert Murdoch purchased the 8,00- square-foot, three-story apartment in this fabled co-op building in 2004 for $44 million

Time Warner Center. British moneyman David Martinez bought both the 76th and 77th floors of the south tower, totaling 12,000 square feet, in 2003 for $42.25 million 

1009 Fifth Avenue. Known as the Duke Semans mansion, cab driver-cum-Russian oil mogul Tamir Sapir bought this property in January 2006 for $40 million.

810 Fifth Avenue. Blackstone Group cofounder Pete Peterson bought David Geffen's 12-room duplex at 810 Fifth Avenue in May 2007 for $37.5 million.

2 East 63rd Street. Russian businessman Lee Blavatnik purchased this 20,600-square-foot mansion for $31.25 million in 2005.


http://www.nyobserver.com/2007/putting-50-m-plaza-sale-perspective


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## gladisimo (Dec 11, 2006)

^^ You can say that there are higher prices in NYC, and there are probably higher ones around the world as well, but to say that it is "nothing" in Manhattan is just woefully arrogant.


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## krull (Oct 8, 2005)

gladisimo said:


> ^^ You can say that there are higher prices in NYC, and there are probably higher ones around the world as well, but to say that it is "nothing" in Manhattan is just woefully arrogant.


Aren't we talking about 'Most expensive' here? Well guess what! $23 Million is not the 'Most' expensive price for condos in Manhattan. That is why I say that price in HK is 'Nothing' compare to what is happening in Manhattan. :| I was responding to cbotnyse comment, that the HK apartment was more expensive than what you find in NYC. I am not saying that no other cities have their own 'most' expensive condos themselves.


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## _00_deathscar (Mar 16, 2005)

krull said:


> Aren't we talking about 'Most expensive' here? Well guess what! $23 Million is not the 'Most' expensive price for condos in Manhattan. That is why I say that price in HK is 'Nothing' compare to what is happening in Manhattan. :| I was responding to cbotnyse comment, that the HK apartment was more expensive than what you find in NYC. I am not saying that no other cities have their own 'most' expensive condos themselves.


True - there are quite a few homes in HK too that sell for greater than that.


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## cbotnyse (Jun 13, 2007)

color me a moron, I was looking at that as 185 million USD. :nuts: :bash: :lol: So I guess the NYC apt still holds the title as world's most expensive condo.


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## _00_deathscar (Mar 16, 2005)

^ The $70m one?

No - apartments at Hyde Park reportedly sold for £84m - that's over US$168m.

As far as residential plot land goes, a site on the Peak in Hong Kong sold not too long ago for US$231m.


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## LLoydGeorge (Jan 14, 2006)

_00_deathscar said:


> ^ The $70m one?
> 
> No - apartments at Hyde Park reportedly sold for £84m - that's over US$168m.
> 
> As far as residential plot land goes, a site on the Peak in Hong Kong sold not too long ago for US$231m.


Apparently, however, the Hyde Park apartment had special bullet proofing and anti-missile features since it is to house a sheik, and this artificially inflated the price. Also, it likely has gold fixtures, etc. for that price. Most apartments in the most upscale areas of London sell in the $1,500 to $4,000/ s.f. range.


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## VicFontaine (Jan 10, 2006)

twiz said:


> $200m? :crazy:


no problem for one of these russian oil guys anyway :scouserd:


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## Energy2003 (Jun 13, 2007)

in austria it´s about 3400€ (4700 $) / m² ... for normal non luxury appartment

http://www.immo-agent.at/projekte/detail.php?pid=801&PageNum=7&top=0

to see the (nice) building klick on "weitere Bilder" 

if i read your prices, it´s cheap offer


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## cbotnyse (Jun 13, 2007)

how about these??

http://www.80southstreet.net/


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## Rachmaninov (Aug 5, 2004)

krull said:


> Here are more places in Manhattan...
> 
> 
> *Putting the $50 M. Plaza Sale in Perspective*
> ...





krull said:


> Well... $185,000,000.00 HKD = $23,663,946.38 USD
> 
> $33,500.00 HKD per square foot = $4,285.09 USD per square foot
> 
> ...


Only one out of the many you listed (15 Central Park West) qualify to beat HK at USD$6000 per sq ft. Others were either less expensive or they were mansions instead of condos.

But allow me to ask - that was a 2005 article. How much did they end up with?


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## _00_deathscar (Mar 16, 2005)

Good point, as far as mansions go, for starters there aren't that many in Hong Kong to begin with. But the ones that are, sell for stupid prices.

The Chinese mansion at 44 Stubbs Road (apparently) sold for HK$450 million (US$57.8 million). 
http://www.skyscrapercity.com/showthread.php?t=473099&page=2

Here's the mansion:









Link:
http://www.conservancy.org.hk/heritage/KYL_E.htm

I read somewhere that the current owner of this mansion bought the place for HK$24 million back in 1978! Not a bad 30 year profit (even taking into account inflation!)

Also, the South China Morning Post reported that there were two houses in Chung Hom Kok going for HK$350 million (US$45.0 million) together (I think, not each - that'd be ridiculous) for a combined (just over I believe ~ each were just over 3,000 sq ft) 6,500 sq ft.

That's equal to nearly US$7,000/sq ft.

And 6,000 sq ft (remember, its two houses together) is by no stretch of the imagination a large city 'mansion'....

The Severn Road project also consistently hit HK$35,000/sq ft (and over). That's the equivalent of US$4,500/sq ft.

The highest (and most recent selling) house in Severn Road sold for HK$210 million (US$27.0 million) at HK$41,000/sq ft (US$5,269/sq ft).


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## trelemorele (Jun 24, 2007)

The most expensive apartment in Warsaw (Poland), currently on the market is $13.000 per square metre. Unfortunately I don't have any pics of it.

However, Zlota 44, designed by Daniel Libeskind will have apartments with an average price of $10.000-$13.000 per square metre. We can expect that some penthouses may reach $15.000 or even more.


































More info here: http://www.skyscrapercity.com/showthread.php?t=257171


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## _00_deathscar (Mar 16, 2005)

That's really nice!


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## ØlandDK (May 29, 2005)

That Liebeskind project is awesome...!


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## _00_deathscar (Mar 16, 2005)

Again, not a condo but worth a mention, seeing as it's smaller in size than some of the penthouses being bandied about.

At 37 Deep Water Bay Road, labelled Hong Kong's "Chateau de Versailles", a 5,000 sq ft house sold for HK$350 million (US$45 million) in 2006.

Here's a pic:









http://images.businessweek.com/ss/07/06/0627_nouveau/source/10.htm


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## gladisimo (Dec 11, 2006)

Man, if I can ever afford a house 1/20th of that price I will be happy

Oh, btw, the forbes article doesn't list all condos/urban homes


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## FTech (Nov 19, 2006)

Hey trelemorele, do the Polish still want to tear down that gift from Stalin?


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## _00_deathscar (Mar 16, 2005)

gladisimo said:


> Man, if I can ever afford a house 1/20th of that price I will be happy
> 
> Oh, btw, the forbes article doesn't list all condos/urban homes


Indeed, as it says on the site itself:


> "We have chateaux priced at more than 50 million Euros ($65 million)," says Thierry Journiac of Terra Cognita who said owners of the country's priciest properties very rarely make public listings. "But, in general, the most expensive estates in France are private mansions inside Paris called 'hotels particuliers' with prices which can be above 100 million Euros ($130 million)."


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## _00_deathscar (Mar 16, 2005)

http://www.landscope.com/search/pro...=11821&hash=babdb2b9c045b2e0a9ceb88d8104d477#

Just over US$32m for that one.


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