Hong Kong's government is cracking down on real estate developers for exaggerating floor numbers and square footage in sales materials. Last month, a developer sold an apartment at luxury condo 39 Conduit Road for $56.6 million, claiming the apartment was on the 88th floor. It is actually on the 46th floor. (The building's floor numbering system skipped numbers considered unlucky.) The apartment was advertised as 6,158 square feet (including the apartment's share of public hallways, the gym, and the spa). It is actually only 4,671 square feet, meaning it sold for more than $12,000 per square foot. [WSJ]
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