A luxury flat in Hong Kong has set a new record as the most expensive apartment in Asia. The price was a whopping US$36.3 million. The penthouse in Hong Kong’s upscale Mid-Levels district sold earlier this month for a record US$5,142 per square foot, the South China Morning Post reported on Saturday.

The price shattered the previous record for Asia’s most expensive flat, which was held by another Hong Kong property that sold in October for US$4,370 per square foot. Hong Kong already has the most expensive house prices in Asia in terms of price per square foot - a property in the most exclusive residential area, The Peak, sold in June for US$27.09 million (US$5,283 per square foot.)

Branksome Crest Tower Penthouse

The buyer, Jack Ma, is the chairman and founder of online business to business giant, Alibaba. Ma’s five-bedroom duplex has set a new record for property prices not only in Hong Kong, but all of Asia. Ma’s $900 million earned him 76th place on this year’s Forbes list of China’s 400 richest people, but since the recent public offering of Alibaba, Ma’s personal net worth is now an estimated $1.6 billion, which should bump him up the list a little.

The Mid-Levels penthouse covers the 52nd and 53rd floors of the Branksome Crest tower and covers 7,088 square feet, commanding views across Victoria Harbour, has a private swimming pool, a 2,700 square feet terrace and a garden. Branksome Crest is a residential block developed on a podium which accommodates an entrance floor, 5-storey carpark and 2 levels of clubhouse. There are 35 residential floors erected on top of the podium. Immediately adjacent to Branksome Crest is an existing building known as Branksome Grande, with 2 residential towers.

Branksome Crest

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