Hong Kong Megamansion Hits the Market for HK$2.2 Billion, the City’s Priciest Listing | Kanebridge News
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Hong Kong Megamansion Hits the Market for HK$2.2 Billion, the City’s Priciest Listing

By V.L. HENDRICKSON
Thu, Aug 24, 2023 8:20amGrey Clock 2 min

A Hong Kong megamansion with views of Repulse Bay has hit the market for a whopping HK$2.2 billion (about US$281.1 million), making it the city’s priciest listing.

The residence is also among the most expensive homes on the market in the world, pricier than the $250 million penthouse at Central Park Tower in New York City, currently the U.S.’s most expensive publicly listed property. In addition, earlier this year, a new mansion in an exclusive Hong Kong neighbourhood known as The Peak reportedly sold for HK$1.2 billion from a mainland Chinese buyer, Mansion Global reported.

The more than 18,000-square-foot residence was completed in 2019, but protests in the city and the Covid-19 pandemic kept the developer from listing the home. Now that they are ready to sell, however, property prices are cooling, according to Victoria Allan, managing director at Habitat Property, which listed the property last week.

“2022 was a rough year in Hong Kong,” Allan said, noting the city shutdowns. “Now that the city is open again, Hong Kong Chinese and mainland Chinese are actively buying for self use. As prices soften, we expect activity to increase as buyers [secure] property for self use at reduced prices.”

For the seller, that may mean being negotiable to a lower price, she noted. Still, the sheer size of the house, its proximity to the water and its location in the tony Repulse Bay neighborhood is likely to attract buyers who are finally able to return to Hong Kong, Allan said. In addition, high-end real estate is very limited in supply because of the island city’s limited building space, she added.

The residence features oversized black casement windows and marble floors and bathrooms, listing photos show. An imperial staircase leads to the main level that has an open layout, and there’s also an elevator.

With 11 bedrooms and eight bathrooms, the house is “ideal for families,” the listing said. There are several outdoor areas, including a roof deck with water views and a lap pool surrounded by a lounging area.

HABITAT PROPERTY

The underlying property was previously occupied by an apartment building, and was purchased by local property firm First Group Holdings in 2014 for HK$350 million, The Business Times reported, citing government data. Representatives from the developer were not available for comment.

Despite falling home prices, Hong Kong’s strict lending requirements have protected the market from the effects of rising interest rates and property owners from being over leveraged, Allan said. “This has helped keep the market more stable, and rising rates have not had as much of an impact on values as other global markets.”



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Designing Dreams: David Charette’s fascinating Spaces for Children’s Adventures

David Charette has teamed up with CIRCU Magical Furniture to design spaces that capture the essence of childhood wonder.

Tue, May 21, 2024 4 min

This collaboration between David Charette, founder and principal of Britto Charette, and CIRCU Magical Furniture aims to stimulate the imaginations of children, encouraging them to invent their own tales of adventure. Drawing on his extensive travels, Charette believes that journeying through different cultures can spark creativity in young minds.

His latest venture uses a mix of luxury elements and magical themes, incorporating products from CIRCU, Covet House, and other vendors to create unique, enchanting children’s rooms. These spaces are designed to reflect the excitement and mystery of exploring new worlds.

The Sleeping are:

David Charette has transformed a Montreal residence into a magical sleeping area where time seems to pause, and adventures await. Known for its long, cold winters and short days, Montreal served as the perfect backdrop for Charette’s vision of a space that remains warm and bright throughout the year.

Central to the design is the concept of “light and bright,” brought to life using de Gournay‘s hand-painted wall coverings in fresh mint, decorated with flying butterflies. These elements beautifully complement the original shapes of the KOKET Nymph Wall Lamp and the organic curves of the CIRCU Tristen Bed.

Charette’s attachment to the Tristen Bed stems not only from its youthful appeal but also from its ergonomic design, which makes it easy for children to climb in and out of, enhancing both its functionality and charm.

The Bed:

Charette paired the modern lines of the bed with the unique design of the Boca do Lobo Wave Nightstand and the funky style of Delightfull’s Billy Table Lamp. By blending these contemporary pieces with the classic elements in the decor of this luxury kids’ room, Charette has crafted a unique space that breathes a natural breeze of inspiration into any child’s environment.

This combination not only adds aesthetic appeal but also stimulates the imagination, making the room a perfect sanctuary for creativity and dreams.

The seating area:

The room also includes a cozy seating area perfect for young readers. Centred around the CIRCU Dainty Armchair, this space is tailored for kids, with the chair’s delicate structure and elegant design enhancing the room’s charm. Its pink velvet upholstery adds a vibrant pop of color, enriching the room’s palette. To distinctly separate this reading corner from the rest of the sleeping area, Charette chose the Boca Do Lobo Gold Folding Screen from Covet House, which not only adds an element of privacy but also contributes a touch of sophistication to the space.

The Play and Study area:

David Charette aimed to create a space with an “Out of Africa” vibe to spark a child’s imagination and inspire a passion for lifelong adventures and travels. Drawing from fond memories of camping during his own childhood, Charette incorporated a Teepee Tent into the room’s design, allowing children to feel as they are camping in a forest right within their own bedroom.

This nature-inspired theme is beautifully complemented by the Fornasetti wall coverings from Cole & Son and the Filigree Cricket Wall Lamp, which are insect-shaped sconces by Boca do Lobo.

Adding to the ambiance, Charette notes, “The clouds on the ceiling further the idea of camping (in this case “glamping”) and dreaming, and the Circu Cloud Suspension lamps add to the dreamy camping vibe.”

To maintain this adventurous theme, Charette selected the CIRCU NODO Suspension Chair. It not only brings a hint of outdoor fun indoors with an elegant flair but also offers a comfy spot for kids to unwind and lose themselves in their favorite stories.

In his design, David Charette, of Britto Charette, focused on enhancing the sense of freedom and sparking children’s imaginations in their own space. He chose one of his favorite pieces from CIRCU, the Sky Desk, for its playful design and inspirational form. Shaped like an airplane, this desk not only becomes the central feature of playtime but also transforms homework into an exciting adventure. The unique design aims to captivate and motivate young minds, turning everyday tasks into a flight of imagination.

David Charette designed this luxury children’s room with the hope that it would inspire children to dream, play, and develop a deep respect for nature as they embark on their own adventures.

He crafted the room to be “transitional,” capable of evolving with a child from toddler years into adolescence. This design approach not only aims to create a lasting, imaginative space for children but also to show parents the value of investing in unique, high-quality pieces like those from Circu. These carefully chosen items stand out from mass-produced children’s designs, offering both aesthetic appeal and long-term utility.

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