Hong Kong house sells for HK$1.04 billion with 25% gain over decade
The city has seen a flurry of luxury home sales in the past month as sentiment warms up
[HONG KONG] A mansion at Hong Kong’s prestigious Peak area was sold for HK$1.04 billion (S$171.1 million), yielding a more than 25 per cent gain for the owner who held it for about a decade.
House six at Mount Nicholson, a project known for setting a record as Asia’s most expensive apartment per square foot, was sold to a company named Golden Visions Holdings last month, according to a land registry filing. The seller, Chow Kwok Fai, purchased the home in 2016 for HK$830 million, the filing shows.
Chow, who also goes by Zhou Guohui, is the chairman of Shenzhen-listed Eternal Asia Supply Chain Management, local media reported. A representative for Eternal Asia did not respond to a request for comment.
The five-bedroom property features a swimming pool, garden and elevator and spans 9,455 square feet (878 square metres). Its facade and interiors were designed by the late New York-based architect Robert Stern.
Hong Kong has seen a flurry of luxury home sales in the past month as sentiment warms up, helped by a stock market recovery and falling interest rates. Developers in the financial hub sold more than US$750 million new high-end properties at nine projects during the two-week holiday period, including a HK$558 million house at one Plantation Road, also on the Peak.
Hong Kong’s housing market achieved a soft landing in the second half of last year after years of correction, according to a Jones Lang LaSalle report last month.
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“Housing prices have bottomed out, and the outlook for 2026 is cautiously optimistic,” Joseph Tsang, chairman of JLL in Hong Kong, said in the report. “We expect capital values in the mass residential segment to rise by about 5 per cent, while luxury residential values will remain broadly flat.” BLOOMBERG
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