Hong Kong flat sale fails

Marion Dakers
THE world’s most expensive apartment is to remain empty for now, as developer Henderson Land revealed its £38.3m sale had fallen through.

The duplex in the 39 Conduit Road luxury development in Hong Kong’s Mid-Levels district was snapped up last October for the record sum.

Its sale, and 19 other deals for plush apartments in the building, have now been cancelled causing Henderson to book a loss of HK$133.4m (£11.5m).

Authorities in Hong Kong will now investigate the reasons behind the failed sale, after concerns were raised about potentially misleading marketing tactics.

Henderson told bidders the most expensive flat was located on the 68th floor, considered a lucky number in Chinese, without making clear that several floors had been skipped to avoid unlucky numbers.

Henderson said in a statement: “The group remains confident in the prestigious location and the superior quality of the development, and intends to continue to be sparing in considering any sale of units in it.”