It looks like Hong Kong is going to have a lot to celebrate this New Year’s Eve as reports of a $108 million shop being purchased in the busiest district of the city spread like wild fire, sky rocking the city’s property sale potential for 2010.
Famous music icon Albert Yeung has just purchased a 1,212-square-foot shop in the heart of Hong Kong, and those who are good at fast math will note that with the shops selling price landing at $108 million, Yeung paid an incredible $90,000 per square foot, setting a new city record. There are even reports that this may be the most expensive store in the world, but they are stopping short of actually claiming that title for now until confirmed.
The incredible sale took place in the very popular Tsim Sha Tsui disctrict and the shop houses the Emperor Watch & Jewelry. Yeung’s claim to fame is, in part, signing contracts with a large number of Cantonese pop stars who all have had insurmountable success among fans.
The recording breaking sale is actually a sort of “keeping it in the family” situation, as the previous property sale record in Hong Kong was set by Yeung’s brother, Ricky, who paid $58,000 per square foot for a nearby shop in the same high-demand area of the city.