Mainland buyers account for 80 per cent of 35 deals in last year and a half, including five above HK$1 billion (US$127 million)
Hong Kong’s super luxury property market has seen 35 transactions worth about HK$23 billion (US$2.93 billion) in the past 19 months, with ownership shifting from local property-industry tycoons to mainland buyers who have made their fortunes in hot industries, according to Savills.
Wealthy buyers from mainland China accounted for 80 per cent of the deals worth HK$300 million or more – 24 in 2024 and nine in the first seven months of this year, said Thomas See, the property consultancy’s director and head of residential sales.
“They came from emerging industries in mainland China,” such as AI, fintech and gaming, or industries that grew in profitability during and after the Covid-19 pandemic, like healthcare and logistics, he said.
Twenty-four of the super-prime properties were located on Hong Kong Island, from The Peak to Jardine’s Lookout and the Southside, while 11 were in Kowloon’s Kai Tak and Kowloon Tong areas.
