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$28.8 million for a condo?

Want to own a piece of luxury real estate in a prime location, specifically in Hong Kong? Well you can pay $28,800,000 for a 5497 sq ft penthouse condo with your own pool and a view of the harbor. Per the article, that’s the record price (per square foot) in Asia. Anyone know what the record in the world is? Perhaps it’s this one (for about $16,000 US dollars per sq ft)?

So this new happy owner paid $5,300 per square foot for this condo (the article’s $41,000 is in Hong Kong dollars, not U.S.). In comparison, I paid $205 per square foot for my single family home in Maryland. Granted, my house is less than half the size of this condo, but I do have my own pool too!

Now let’s see which of my readers paid the least price per square foot for their house. To help you out, just divide your purchase price by your home’s finished square footage. E.g. $400,000/2,000 sq ft = $200/sq ft. Go ahead and leave a comment! Also mention the city/state please.

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Clever Dude

14 Comments

  • Holy, 5300 bucks a square foot . . . I paid 88.54/sq ft for my modest bungalow on the east coast of Canada. That’s $102000 for an 1152 sq ft 3 bedroom, one and a half bath bungalow right in the center of our city, walking distance to a elementary and middle school, library, grocery store, movie theatre and mall.

    It’s not like it’s a castle, but for our first family home it’s fantastic.

  • I’ve never thought about doing that calculation! Mine is $137/sq ft in Baltimore County/Linthicum, MD. And prices were high when we bought, arg.

  • We bought our house in the St. Louis area two years ago for $206,000. The upper two levels are finished, giving us a “gross living area” of 2326 sq. ft. That comes to $88.56/sq. ft. If you include our walk-out basement, which we intend to finish within the next few years, we have 3471 sq. ft, coming in at $59.35/sq. ft. Not too bad!

  • I paid $470.72/sq ft for a 2/2 condo (871 sq ft) in San Jose, CA. It was the going rate in 2006 before real estate started to slide.

  • I paid $139,400 for my 1,796 square foot townhouse (new construction) in the Cleveland, OH area, which works out to $78/sq ft.

  • We paid $113k on a 1750 sq. ft. ranch near Greenville, SC. This comes out to be just under $65/sq ft. Housing prices are lower around here than most other places in the US and we did purchase on the downside of a small real estate bubble in 2007.

  • That building in HK is sick. It’s part of a new complex that is hoping to anchor a new city center on the Kowloon (mainland) side. The views from that penthouse apartment would look across the harbor to the shiniest, tallest city in the world.

    I’m in a fairly cheap suburb of Hong Kong and the rates here are still starting around $600/SF.

    Some of the houses on The Peak might be more expensive per square foot, but their agents are more discreet. The Arch is one of many relatively new buildings trying to gain notoriety.

  • Bought our 2006 built, 3300 sq ft house in November for 232,703 ($70.51). It is located in Rogers, MN . Did / Does need some minor work (carpet) in the basement so even if you add $5k in for carpet you get $71.53 / sq foot.
    Only 7 miles from our previous house that we still own… (OUCH).

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