Luxury home transactions in Hong Kong are expected to increase, as many celebrities including top executives of a local bank and prominent figures are seizing the opportunity to invest in properties, taking advantage of a 30 percent decline in prices.
The chief executive of UBS Hong Kong, Amy Lo, bought a low-rise flat at Bisney Crest, Pok Fu Lam, was purchased for HK$78 million, with a usable area of 2,645 square feet. It features a layout with four bedrooms, along with a garden of approximately 361 square feet and a terrace of 177 square feet.
Legendary singer Jay Chou Chieh-lun, reportedly bought a luxury four-storey mansion in Taiwan for over HK$700 million in purchasing the four-story unit at Puyong, opposite the Taipei Dome.
The chairman of Hongkong and Shanghai Banking Corporation, Peter Wong Tung-shun's family, bought a flat at Hong Kong Parkview, Parkview Heights, for HK$125 million. The saleable area is a total of 4,616 square feet, with a price per square foot of approximately HK$27,080.
Wong and related parties have spent HK$231 million this year to acquire four units at Hong Kong Parkview, with the transactions led by Wong's son, Wong Ka-chun.
In addition to business elites, many wealthy celebrities are also actively entering the market.
Singer Gloria Tang Sze-wing, known as Tang Tsz-kei GEM, used HK$85 million to purchase two units at Leon Court in Hong Kong Island, Mid Level's East. The saleable area is approximately over 4,900 square feet, with a price per square foot exceeding HK$17,000.
Hong Kong actress Karen Joy Morris, known as Karen Mok, spent HK$84 million, bought a three-bedroom unit with a parking space at Dynasty Court in Mid-Levels. The saleable area of the apartment is over 2,000 square feet.
Dynasty Court was bought by many celebrities, including Raymond Lam Fung.
ANSON LUK
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