{"id":11310,"date":"2016-03-04T20:56:08","date_gmt":"2016-03-05T01:56:08","guid":{"rendered":"https:\/\/thatdope.com\/travel\/french-consuls-hong-kong-home-fetches-75m\/"},"modified":"2016-03-04T20:56:08","modified_gmt":"2016-03-05T01:56:08","slug":"french-consuls-hong-kong-home-fetches-75m","status":"publish","type":"post","link":"https:\/\/thatdope.com\/travel\/french-consuls-hong-kong-home-fetches-75m\/","title":{"rendered":"French consul\u2019s Hong Kong home fetches $75m"},"content":{"rendered":"
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<\/a><\/p>\n The home of France\u2019s top diplomat in Hong Kong<\/a>, located in one of the Chinese territory\u2019s glitziest districts, has sold for 74.5 million US dollars.<\/p>\n Buyer Fortune Asset Management snapped up the 19th-century residence in Hong Kong\u2019s Peak<\/a> neighbourhood as housing prices continue to soar.<\/p>\n \u201c(The sale) is part of a wider government policy to streamline its real estate holdings abroad,\u201d the consulate said, adding that the sale \u201cwas a good deal\u201d. Under the deal, which was signed last Friday, the French diplomat will be allowed to stay in the residence for two more years.<\/p>\n Average home prices in Hong Kong soared about 24 per cent last year, prompting the government to usher in a series of measures including sales of public land to cool the red-hot property market.<\/p>\n Sources: AFP \u2013 PropGOluxury<\/a><\/p>\n
He said the consulate would buy a new residence that is more \u2018modern and practical\u2019 than the current \u2018antiquated\u2019 home which requires significant upkeep.<\/p>\n