<p>The 75.8 square metre apartment in the city's Tsim Sha Tsui district has 54.8 square metres of useable living space -- once walls and partitions are discounted, the South China Morning Post reported.<br /><br />The flat is on the 54th floor of a 64-floor development called The Masterpiece, Hong Kong's second-tallest residential building, and is the smallest unit in the development.<br /><br />An estate agent told the newspaper that the buyer, a Hong Kong businessman, paid nearly $42,000 per square metre because of the flat's location and its views over Victoria Harbour.<br />The price is a record for a one-bedroom flat. Hong Kong's most expensive apartment is a 658 square metre flat in the Mid-Levels district, which sold for $30.9 million in 2007.<br /><br />The most expensive residential property is a 306 square metre house in the exclusive Peak district on Hong Kong island that sold for $36.7 million in June 2008.<br /><br />Property prices have rallied strongly in Hong Kong in recent months as stock prices have soared and the city's economy has shown signs of emerging quickly from the global recession.</p>
<p>The 75.8 square metre apartment in the city's Tsim Sha Tsui district has 54.8 square metres of useable living space -- once walls and partitions are discounted, the South China Morning Post reported.<br /><br />The flat is on the 54th floor of a 64-floor development called The Masterpiece, Hong Kong's second-tallest residential building, and is the smallest unit in the development.<br /><br />An estate agent told the newspaper that the buyer, a Hong Kong businessman, paid nearly $42,000 per square metre because of the flat's location and its views over Victoria Harbour.<br />The price is a record for a one-bedroom flat. Hong Kong's most expensive apartment is a 658 square metre flat in the Mid-Levels district, which sold for $30.9 million in 2007.<br /><br />The most expensive residential property is a 306 square metre house in the exclusive Peak district on Hong Kong island that sold for $36.7 million in June 2008.<br /><br />Property prices have rallied strongly in Hong Kong in recent months as stock prices have soared and the city's economy has shown signs of emerging quickly from the global recession.</p>