Land in Hong Kong is scarce – nearly 6,500 people are crammed into every square kilometre – and big business.

Monocolumn is Monocle’s daily bulletin of news and opinion. Catch up with previous editions here.

Land in Hong Kong is scarce – nearly 6,500 people are crammed into every square kilometre – and big business. Last Wednesday, a 23,312 sq m plot in the luxury home Peak district went under the hammer for HK$10.4bn (€1.2bn), the third most expensive land sale ever recorded here. In six years, when the project will be completed, it’s estimated residents will pay up to HK$60,000 (€5,900) per sq ft to live here.

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