High end condos in Hong Kong have sold for as high as $10,000 US per square foot. And that includes the space for lobby, elevators, hallways etc... So your 1000 sq foot condo can go for about $12 million US. This is for the prime high end condos though.
This is what happens when you have a country where their government takes up less than 10% of GDP. The USA government takes close to 50% of your money, and subsequently wastes most of it. This is why Europe and North America are in trouble now. They can't compete anymore with that huge overhead.