Wheelock Properties sold adjoining luxury flats in Hong Kong’s exclusive Peak neighbourhood for a record price, days after the government rolled out curbs to cool the property market.

The 8,702-sq-ft adjoining flats in the Mount Nicholson project were sold for HK$912 million ($117.6 million), with the price psf exceeding the previous record at the project by 23%, according to the company. The buyers also purchased another unit at the Mount Nicholson project for HK$312 million, says the developer.

The deal came just three days after Hong Kong’s leaders moved to damp Hong Kong’s resurgent property market, where prices have climbed after a six-month dip. The government on Nov 4 announced plans to raise the stamp duty to 15% for all residential purchases — except for first-time buyers who are permanent residents.

Investors who are permanent residents now have to pay a 15% stamp duty on home purchases, while non-residents need to pay 30%.

The Mount Nicholson project is a joint venture between Wharf Holdings and Nan Fung Group, and developed by Wheelock Properties. The developers recently sold another pair of adjoining flats in the project for HK$749 million, or an average price of HK$85,000 psf. — Bloomberg LP