A mansion in Hong Kong has changed hands for HK$1.09 billion ($140 million), marking the city’s priciest home sale so far this year, according to a transaction filing reported by Bloomberg.
The property at 1 Gough Hill Road, located in the prestigious Peak area, spans more than 1,063 square meters (11,442 square feet) and features five bedrooms and a private lift. The sale surpasses a previous HK$1 billion villa transaction earlier this year in Kowloon Tong.
Last week, another mansion at 15 Gough Hill Road, formerly owned by Chinese tycoon Chen Hongtian, sold for HK$790 million—over 60% below the tycoon’s 2016 purchase price—highlighting the variance in Hong Kong’s high-end property valuations.
The city’s luxury property market has seen renewed momentum in recent months. A report by Midland Realty cited expectations of U.S. interest rate cuts, a rebound in Hong Kong’s financial markets, and a surge in initial public offerings as key factors supporting rising prices and increased sales activity.
