Acclaimed film director Wong Kar-wai or related parties have cut the asking price of a detached house on Shouson Hill Road in Southern District by HK$50 million, or 25 per cent, to HK$150 million.
The 2,528-square-foot house at Jade Crest, with four bedrooms and a private garden, was originally listed at HK$200 million in March. The reduced price translates to about HK$59,335 per square foot, still more than 10 per cent above market value.
Agents said the house has been newly renovated and is available for viewing by appointment, but Wong or related parties have insisted no photographs be taken. It is also listed for rent at HK$148,000 per month.
Wong or related parties bought the house through a company in 2002 for HK$16.8 million. Even after the price cut, it is still more than HK$133 million, or 7.9 times, above the purchase price.
Wong or related parties currently hold at least 22 properties, including 17 commercial and industrial units, with the Shouson Hill house being the most valuable. The three residential units held have all seen price cuts in the past 18 months.
