Asia's most expensive apartment sold in Hong Kong's Peak area

The apartment on the Peak came with three parking spaces and is measured at 4,544 square feet

A Hong Kong apartment sold for HK$640 million ($82.2 million), making it Asia’s most expensive per square foot in a further sign of buoyancy in the city’s upscale housing market.

Wharf Holdings and Nan Fung Development sold an apartment at Mount Nicholson, one of the most iconic upscale projects in the city, for HK$140,800 per square foot, according to the companies.

The apartment on the Peak, a luxury residential area on Hong Kong Island, came with three parking spaces and is measured at 4,544 square feet (442 square meters). That broke the record set by CK Asset Holdings Ltd.’s 21 Borrett Road project almost nine months ago. Hong Kong tycoon Victor Li’s firm sold the apartment for HK$136,000 per square foot in February.

The most recent purchase underscores how the city’s luxury residential market — already one of the world’s priciest — continues to grind higher.