Following the end of 2016, Hong Kong for the first time has topped the list of the world's cities with the most expensive residential real estate, according to an annual ranking prepared by Christie's International Real Estate Luxury.
The survey indicated that last year four real estate transactions of more than $100 million were made in Hong Kong, with one of them setting a new record for the region – $270 million.
This year, Hong Kong is likely to retain its first place due to the next record: the founder of Biel Crystal Manufactory, which makes screens for iPhone, Yeung Kin-man paid $361 million for two houses on adjacent plots at the peak of Victoria, where he plans to build a luxurious mansion.
London has moved down to the second place in terms of a price per square foot and the average value of the object.
