Hong Kong property market: record HK$80k/sq ft condo sale, Kwun Tong unit auctioned 16% under bank estimate

A duplex in the Tianxi·Hai development at Kai Tak sold for approximately HK$2.47 billion, equating to a price of about HK$80,000 per square foot. The 3,099‑sq‑ft, five‑bedroom unit set a new record for the district, surpassing the previous high price per square foot in the area.

In Kwun Tong, a two‑bedroom unit in the Crown Estate (冠天閣) was put up for auction at HK$3.5 million. The asking price was about 16% lower than the bank’s valuation of HK$4.19 million, reflecting the seller’s decision to cash out amid a generally strong residential market.