Hong Kong Luxury Homes Available for a Cool $75 Million
A property can be bought either for investment or for living in, but luxury homes are a whole other thing. Hong Kong--one of the most expensive markets and places to live in--have a surplus of luxury real estate available. Bloomberg reported that these luxury homes are up for grabs--for anyone who has $75 million in their bank accounts.
Former JPMorgan Chase & Co banker turned businessman Loewe Lee has created prime real estate on a space of land that has a scenic view, overlooking the South China Sea. These luxury homes have a definite draw--five of these seven properties have been lavishly decorated from the practical to the luxurious.
These five houses have the best in luxury decor. Persian carpets, cut crystal, and Christofle kitchen cutlery--these are only some of the furniture you're going to see in these homes. From the floor covers to the kitchen decorations, everything has been purposefully thought out--even the art on the walls and coffee table books on the desks.
The Hong Kong property scene has been a collection of activities recently. A New Year's Eve transaction appears to have created a buzz as a buyer put in a deposit for a three-story, $92.5 million property up on the hills of Hong Kong Islan. The property, according to the NY Times, is a luxury real estate complete with a garden and a pool on the grounds.
As with all purchases, however, the buyer defaulted on the deposit. It's been that way in the luxurious Hong Kong property market. However, experts say that the market is beginning to warm up once again, amid announcements from the Chinese central bank that it would 'stabilize' the renminbi, as well as the Stock Market starting to warm up again.
Property prices on the rise also mean a lot of redevelopment. That means real estate properties redeveloped into low-cost, high-rise apartment units that offer more profits simply because they are the most affordable properties. Most of these have become hot property for those who are looking for an investment, where they become owners of these rental units.
These homes, some of which have been designed by Paris-based designers Gilles & Boissier, are prime properties. With the property market starting to finally warm up once more, these properties, as well as the other luxury properties on the market, are fair game. It's interesting to see how these will shape up the Hong Kong market.