Hong Kong film star Chow Yun-fat’s luxury mansion in the Peak area of Hong Kong Island recently reduced its price for sale, with the new price decreased by 35 million Hong Kong dollars compared to its previous listing of 195 million Hong Kong dollars in December 2024.
According to a report from the “Daily Economic News” on July 30, information from the Hong Kong Land Registry showed that in July of this year, the intended price of the Sunlight Garden mansion at 48 Galleria Road, the Peak, owned by Chow Yun-fat and his wife Jasmine Tan, was lowered to 160 million Hong Kong dollars. This price is 17.9% lower than the bid in December 2024, and compared to the initial listing price of 220 million Hong Kong dollars in October 2022, the price has cumulatively dropped by 60 million Hong Kong dollars in less than four years.
Although the mansion has been significantly reduced in price, the average price per square foot of the property is still relatively high compared to similar garden mansions in the same area, with the listing prices noticeably lower than Chow Yun-fat’s luxury residence.
According to reports from the Hong Kong “Sing Tao Daily,” since April of this year, news of luxury mansion price reductions in the Peak area of Hong Kong Island has been frequent. At least 8 luxury homes in the traditional upscale area of the Peak have been listed at lower prices. The original prices for these properties ranged from 98 million Hong Kong dollars to 890 million Hong Kong dollars, but the latest asking prices have been adjusted to between 90 million Hong Kong dollars and 673 million Hong Kong dollars.
The Peak area of Hong Kong Island is a globally renowned top-tier luxury residential area, but recently, the secondary market for luxury homes in the Peak is experiencing a fierce price reduction trend.
It is reported that Chow Yun-fat is one of the renowned “building kings” in the Hong Kong entertainment industry. Chow and related individuals own multiple residential units and a piece of land located in the Peak, Kowloon Tong, Prince Edward, and Sai Kung, with a total market value exceeding 1 billion Hong Kong dollars.