HK apt sell for $57 million. Chinese businessmen got too much money?

[touchring]

Hong Kong apartment sells for whopping $57 million

by The Associated Press



Enlarge Associated PressA luxurious residential building named Â" Conduit Road 39 " , center brown color, is seen from the Peak in Hong Kong Wednesday, Oct. 14, 2009. A five-bedroom duplex suite located in the building with as much as 6,158 square feet was sold Wednesday to an unidentified buyer from mainland China, said the developer, Henderson Land Development, a major Hong Kong property company. It claims the apartment is the most expensive in Asia by square foot.


Associated PressA luxurious residential building named Â" Conduit Road 39 " , center brown color, is seen from the Peak in Hong Kong Wednesday, Oct. 14, 2009. A five-bedroom duplex suite located in the building with as much as 6,158 square feet was sold Wednesday to an unidentified buyer from mainland China, said the developer, Henderson Land Development, a major Hong Kong property company. It claims the apartment is the most expensive in Asia by square foot.


Associated PressA luxurious residential building named Â" Conduit Road 39 " is seen from the Peak in Hong Kong Wednesday, Oct. 14, 2009. A five-bedroom duplex suite located in the building with as much as 6,158 square feet was sold Wednesday to an unidentified buyer from mainland China, said the developer, Henderson Land Development, a major Hong Kong property company. It claims the apartment is the most expensive in Asia by square foot.


Associated PressA luxurious residential building named Â" Conduit Road 39 " is seen from the Peak in Hong Kong Wednesday, Oct. 14, 2009. A five-bedroom duplex suite located in the building with as much as 6,158 square feet was sold Wednesday to an unidentified buyer from mainland China, said the developer, Henderson Land Development, a major Hong Kong property company. It claims the apartment is the most expensive in Asia by square foot.

[GRG55]

Re: HK apt sell for $57 million. Chinese businessmen got too much money?

Hong Kong apartment sells for whopping $57 million

by The Associated Press



Associated PressA luxurious residential building named Â" Conduit Road 39 " , center brown color, is seen from the Peak in Hong Kong Wednesday, Oct. 14, 2009. A five-bedroom duplex suite located in the building with as much as 6,158 square feet was sold Wednesday to an unidentified buyer from mainland China, said the developer, Henderson Land Development, a major Hong Kong property company. It claims the apartment is the most expensive in Asia by square foot...

Didn't EJ mention in one of his posts that Hong Kong is the conduit to move money out of mainland China? Could it be that this mainland Chinese "investor" knows something about bubble dynamics and is attempting to protect his family's wealth?

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Re: HK apt sell for $57 million. Chinese businessmen got too much money?

Didn't EJ mention in one of his posts that Hong Kong is the conduit to move money out of mainland China? Could it be that this mainland Chinese "investor" knows something about bubble dynamics and is attempting to protect his family's wealth?

Maybe we'll hear about billion dollar apartments soon as China will never let the RMB appreciate in foreseeable future.

The Chinese do not fear bubbles or inflation, they fear riots like those that happened in Xinjiang.

[GRG55]

Re: HK apt sell for $57 million. Chinese businessmen got too much money?

Maybe we'll hear about billion dollar apartments soon as China will never let the RMB appreciate in foreseeable future.

The Chinese do not fear bubbles or inflation, they fear riots like those that happened in Xinjiang.

Which might be one reason that Vancouver, Canada real estate remains inflated...

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Re: HK apt sell for $57 million. Chinese businessmen got too much money?

Which might be one reason that Vancouver, Canada real estate remains inflated...

I believe there are a lot more wealthy people in china than the press or government knows. A lot of people hide their wealth to escape tax or scrutiny of anti corruption bodies. A lot of it might just be in cash. You can't see the money, but you'll know it's around if you look at the real estate prices in HK.