Mont Verra Mansion Sells for HK$1.03 Billion, Setting a New Record in Kowloon!

Despite stock market volatility, super-luxury properties continue to fetch high prices. Mont Verra in Kowloon has achieved another milestone, selling a massive mansion for nearly HK$1.03 billion.

Developed by Kerry Properties (00683), the mansion sold yesterday is House A, which includes two parking spaces. The five-bedroom house has a saleable area of 11,382 square feet, a 13,174 square-foot garden, and a 929 square-foot courtyard, with a price per square foot of HK$90,318. The total sale price of nearly HK$1.03 billion surpasses the HK$1 billion sale of House B in the same development in March, setting a new record for first-hand residential prices in Kowloon.

According to transaction records, the buyer will receive a stamp duty subsidy from the developer equivalent to 4.25% of the purchase price, amounting to HK$43.69 million. Additionally, if the buyer completes the purchase on time and complies with all terms of the provisional and formal sale and purchase agreements, the developer will provide a cash rebate of HK$88 million.

The developer noted that the price of this project reflects the market's strong demand for high-quality super-luxury homes. It was added that the development has sold 22 units to date, generating over HK$7.7 billion.

28hse - No.1 HK Property Portal Squarefoot - HK Premium Property Portal