At a glance
- Hong Kong’s buoyant stock market coupled with attractive government policies are wooing high-net-worth investors – domestic and foreign – back to the prime property market.
- Measures introduced to heat the market include cuts to stamp duties, relaxation of down payments for luxury homes, scrapping of extra taxes on foreign buyers and loosening of mortgage rules
- High-net-worth investors are cautiously returning to Hong Kong’s prime property market as prices remain competitive in a cooled market
- Hong Kong’s most expensive home sale this year hints at renewed momentum in the city’s ultra luxury property market. The five-bedroom 1 Gough Hill Road on Victoria Peak sold for a reported US$140 million earlier in 2025. One of three super prime transactions.
Hong Kong government resuscitates ailing luxury property market
Hong Kong’s luxury property market is one of the most expensive in the world – even after significant price drops following the Covid pandemic, a sharp increase in U.S. interest rates, and escalating trade tensions between China and the United States.
In a bid to boost transaction volumes and breathe fresh life into a stagnant high-end market following an UHNW exodus due to political turmoil and large-scale protests, the government has introduced a number of measures to woo high-end capital back to Hong Kong’s prime residential areas.
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Victoria Peak, also known as ‘The Peak’, is home to some of the most extravagant billionaire homes, commanding seven figure price tags when exchanging hands, despite transaction slowing to a trickle in recent years alongside a sluggish new development pipeline as developers sit on their hands.
Elite residents include billionaires such as Lee Shau Kee, founder of Henderson Land, and Jack Ma, philanthropist and co-founder of Alibaba Group.
Hong Kong’s super prime market is on the up
A recent stock market winning streak, rumoured interest rate cuts and attractive pricing for luxury assets have seen monied buyers return to the city’s super prime housing market with renewed vigour.
So far in 2025, three of the most expensive super prime residential property deals that completed included a mansion at 1 Gough Hill Road on The Peak on Hong Kong Island, which sold for a staggering US$140 million.
Reported to be Hong Kong’s priciest residential property sale of 2025, the five-bedroom mansion was historically owned by the Bank of China, who used it as a guest house in the 1990s before selling on the pricey asset in 2005.
Another mansion, measuring 11,692 sq ft, at the Mont Verra development in Beacon Hill sold for HK$1 billion (around US$128 million), according to Ricacorp data.
This ultra-prime residential complex is located on the top of Beacon Hill, offering panoramic views of the harbor and of Kowloon East.
A third property, also located on The Peak – No 15 Gough Hill Road, measuring 18,078 sq ft – was bought for HK$790 million, according to the September’s transaction data.
The South China Morning Post reports that Hong Kong’s UHNW investors are also snapping up luxury apartments as they reap the profits from the stock market over the past six months.
They are investing capital in the super luxury property segment, taking advantage of relatively low prices, and snapping up distressed assets in the coming months as well as new home sales at discounted prices set by developers keen to shift a stagnated pipeline of empty luxury housing stock.
Catching the eye of monied investors is the standout super prime new Hong Kong development courting the UHNW capital is 1 Plantation Road – a collection of ultra exclusive residences crowning ‘The Peak’ and ‘The Pavilia Forest’ in Kai Tak launched September, 2025.
The latter is the newest launch from Hong Kong developer New World Development and the first landmark artisanal waterfront residential project in Kowloon.
Hong Kong is one of the most sought-after lifestyle, entertainment and business destinations in Asia, and globally.
Hong Kong scored highly in the realtor’s recent Knight Frank’s Asia-Pacific 2025 report which evaluated Asia’s hubs based on key metrics – Economy, Human Capital, Quality of Life, Environment and Infrastructure & Mobility. However, the Asian powerhouse may be usurped by one of the region’s new players.
According to Knight Frank research, Vietnam is rising in rank, scoring high on the list of Asia-Pacific countries offering the best quality of life for the global elite.
One of the fastest growing luxury real estate markets in Asia, the realtor’s data projects a staggering 30% rise in Vietnam’s ultra-high-net-worth individuals (UHNWIs) over five years to 2028 and a GDP projected to grow by 6.1% ($4.41 billion) in 2025, rising to $7.84 billion by 2030, making it the region’s second-fastest-growing economy after India.
