A surge in low cost promoting by cash-strapped house owners has sparked one thing of a frenzy amongst well-heeled patrons, pushing demand for upscale houses up by as a lot as 50 per cent from final 12 months, based on brokers.
“Thus far in 2025, regardless of an general market downturn, the market witnessed energetic transactions in luxurious properties,” stated Lucia Leung, director of analysis and consultancy for Better China at Knight Frank. “This highlights a persistent urge for food for high-end properties amongst prosperous patrons, significantly as confidence out there begins to stabilise.”
A property at 6 Stanley Seaside Street bought this month for HK$116 million, 45 per cent decrease than the height worth of HK$212 million in 2011, based on Victoria Allan, founder and managing director of Habitat Property.
This month, a 2,201 sq ft unit in Cluny Park within the Mid-Ranges neighbourhood above Central bought for HK$57 million, 32 per cent decrease than when it was final transacted in June 2016 for HK$83.9 million, Leung stated. In Tuen Mun, a 3,348 sq ft residence in Seaside Fortress went for HK$59 million, having misplaced 31 per cent of its worth because it bought for HK$85 million in July 2022.