Hong Kong luxury home sold for US$92 million, among top deals this year

A LUXURY residential home on the Peak has been sold for HK$717 million (S$123 million), making it one of the biggest transactions this year.

House three of 15 Shouson Hill was sold on Monday (Jul 22), according to the register of transactions. The buyer has signed a 35-days cash payment plan.

The property is about 9,694 square feet, has three floors and a rooftop. The project’s developers include Emperor International Holdings, CSI Properties, C C Land Holdings and Mingfa Group International. Another unit of the development was sold for US$41 million in July. Sing Tao reported the transaction earlier.

Transactions in Hong Kong’s luxury residential market have picked up as buyers eye prices that have declined by as much as 10 per cent from 2021.

Earlier this month, four mansions on 46 Plantation Road were sold for US$141 million in a single transaction, while a buyer purchased China Evergrande Group founder Hui Ka Yan’s former mansion for just over half the previous valuation in May. BLOOMBERG