World's most expensive home on sale

What could be the world’s most expensive home per square foot is set to go on sale in Hong Kong, which boasts some of the world's costliest properties despite efforts to curb skyrocketing prices.

The entrance to the luxury Twelve Peaks property in the affluent Victoria Peak district of Hong Kong. Asia's most expensive home per square foot is set to go on sale in Hong Kong, which boasts some of the world's costliest properties despite efforts to curb skyrocketing prices. (AFP)

The 4,661 square-foot (433 square-metre) ultra-luxury home, located in the southern Chinese city's affluent Peak district, comes with a HK$819 million ($105.67 million) price tag.

If a buyer matches the price, it would also make it Asia's most expensive home per square foot.

The property has been developed by Sun Hung Kai Properties, according to analysts.

Pic: Getty Images

AFP reports the property has four bedrooms, a swimming pool, jacuzzi, elevator and an exclusive location on Victoria Peak, the central mountain on Hong Kong island that offers spectacular views over the city.

"It should be Asia's most expensive per square foot," if sold at the asking price, Joanne Lee, manager for Colliers International research department, told AFP.

Photo courtesy: Sun Hung Kai Properties

Despite efforts by Hong Kong's government to curb property prices by boosting stamp duty for foreign residential property buyers, Lee said developers are still pricing property projects aggressively to tap into demand from wealthy buyers from mainland China.

 "They are trying to attract mainland buyers instead of local buyers," she said.

"Some mainlanders, they are looking for this kind of thing - like the biggest or the most expensive houses."

There is no date set for the public sale, with the move-in date expected to be later this year.

Pic: Getty Images

This is not the only high-priced property to be sold in Hong Kong in the recent time.

A luxury 6,200 square-foot apartment in a building designed by Pritzker Prize-winning architect Frank Gehry sold for HK$470 million in August 2012.

At the time of purchase it was believed to be the world's second most expensive apartment after a penthouse flat at London's One Hyde Park.

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