c2-hk1-RTS1HZ36-Bobby Yip

In a city where the average person has 150 sq ft of living space, a 9,000 sq ft house just sold for $150 million

HK$1.16 billion

In Hong Kong, where the average dwelling is 150 sq ft (14 sq m) per person, a house of 9,000 sq ft (836 sq m) just sold for almost $150 million.

Published   |  Photo by Reuters/Bobby Yip
c2-hk1-RTS1HZ36-Bobby Yip
HK$1.16 billion

The four-bedroom house, located in the expensive Victoria Peak district, has a swimming pool, large garden, and an underground garage.

c-hk2-RTS1HZ38-Bobby Yip

Reuters/Bobby Yip

c2-hk1-RTS1HZ36-Bobby Yip
HK$1.16 billion

That’s a lot of money even for Hong Kong, one of the most expensive real estate markets in the world.

c2-hk1-RTS1HZ36-Bobby Yip
HK$1.16 billion

Hong Kong’s mountains are part of the problem. Less than a tenth of the territory’s land is zoned for housing, with only half of that available in urban areas.

c2-hk1-RTS1HZ36-Bobby Yip

Reuters/Bobby Yip

c2-hk1-RTS1HZ36-Bobby Yip
HK$1.16 billion

Hong Kong is also the second most unequal city in the world, behind New York. The richest 10% make HK$112,000 ($14,400) per month, over 40 times what the poorest 10% make.

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