Developed by Henderson Land Development, the luxurious unit is a 45th-floor, 4,664 sqft duplex with terrace. Although it was sold at a higher price of HK$439 million in 2009, the lower stamp duty rate at the time resulted in a lower price per square foot.
The buyer is confirmed to be a non-Hong Kong resident and therefore the stamp duty payable represents a total of 23.5%, which means the buyer will have to pay over HK$100 million in stamp duty expenses.
Opinions are mixed regarding the city’s record-breaking transaction. Some urged the government to review the current market-cooling strategies while others doubted the truthfulness of the sale. A SCMP reader recently commented online, saying Henderson had a tracked record of tricking consumers with fictitious transactions so as to boost sales.