Rental values of luxury properties continue to rally - with the most expensive at $25.6m

The rental value of luxury properties continues to rally, with billionaire Lee Shau-kee's three-home mansion at 35 Barker Road on The Peak seeing its value rise 2.8 percent to HK$25.6 million.

It is also the fifth consecutive year that Lee’s mansion has been crowned the most expensive luxury home in Hong Kong in terms of rental value, according to the latest data from the Rating and Valuation Department.

The three houses that make up Lee's mansion would command HK$8.88 million, HK$8.40 million and HK$7.92 million respectively on the rental market. The rateable value of the attached 16-space parking lot remains at HK$408,000.

The total rental value of HK$25.6 million nears the historic peak of HK$26.46 million recorded in the year 2022/23.

Hong Kong's wealthiest man, Li Ka-shing, owns a home at 79 Deep Water Bay Road with a rental value of over HK$9.27 million, versus HK$9.03 million one year ago.

In Shek O, Tencent (0700) chairman Pony Ma Huateng's house at 13 Big Wave Bay Road saw its rateable value rise by 2.8 percent at HK$13.17 million, the most expensive single home in Hong Kong.

Alibaba (9988) founder Jack Ma Yun’s redeveloped home on 22 Barker Road posted a rental value of HK$12.4 million, the same as one year ago.

And a home at 89 Repulse Bay Road, owned by C-Bons Group chairman Leung Leung-shing, saw its rental value stay at HK$11.69 million.

STAFF REPORTER