Gigi Lai capitalizes on low prices to buy a luxury Hong Kong mansion, previous owner incurs nearly tens of millions in losses

Hong Kong actress Tavia Yeung has been married to Him Law for 16 years and they have two daughters and one son, living happily together as a family of five. Taking advantage of the current downturn in the housing market in Hong Kong, the couple recently invested 44 million Hong Kong dollars to purchase a detached house in Er Lung, Yuen Long. The previous owner, who held the property for 7 and a half years, exited the deal with a loss of nearly ten million Hong Kong dollars.

According to data, the detached house on Pavilion Drive in Er Lung, Yuen Long has a practical area of 2,562 square feet, with 4 bedrooms and 4 bathrooms. It changed hands for 44 million Hong Kong dollars in mid-month, at a rate of 17,174 Hong Kong dollars per square foot. The registered buyer is Him Law (ZHANG JIN). The house not only comes with a garden, but also features a private swimming pool and a rooftop terrace. The original owner purchased it for 51.5 million Hong Kong dollars in November 2016, held it for about 7 and a half years, resulting in a book loss of 7.515 million Hong Kong dollars. Taking into account other expenses, the actual loss amounts to over 9.7 million Hong Kong dollars.

On the 19th of this month, Him Law celebrated his 50th birthday. Tavia Yeung shared photos on social media of their children and herself celebrating his birthday. Some speculate that the purchase of the detached house in Er Lung, Yuen Long by Him Law was a birthday gift from Tavia Yeung for her husband’s 50th birthday.

According to a report by Ming Pao, in the same area, Tavia Yeung purchased a house at No. 2 Er Lung Devonia Avenue for 26.339 million Hong Kong dollars in 2015. The practical area is 1,694 square feet, with a rate of 15,548 Hong Kong dollars per square foot. In other words, Tavia Yeung and Him Law have collectively spent around 70.34 million Hong Kong dollars to acquire the two detached houses in the same housing estate.

The report indicates that Tavia Yeung, who has always been fond of investing in real estate, holds properties not only in Hong Kong but also in mainland China, including Beijing, Shanghai, and Him Law’s hometown of Chongqing. Apart from Er Lung in Hong Kong, Tavia Yeung also owns properties in Kowloon Station, the Arch in Ho Man Tin, and the VI in Wan Chai. She is said to hold nine properties with a total market value of nearly 200 million Hong Kong dollars, earning her the title of “property tycoon” in the entertainment industry.

Tavia Yeung, once one of the four leading actresses of TVB in Hong Kong, rose to fame 13 years ago for her role in “Empresses in the Palace”, increasing her popularity in mainland China. In recent years, Tavia Yeung and Him Law, who have been focusing on their careers in mainland China, once moved with their family to Shanghai. Despite Tavia Yeung praising the convenience of life in mainland China on various TV programs, the severe outbreak of the epidemic in Shanghai led to strict lockdowns and disruptions such as food shortages. In 2022, Tavia Yeung, missing her family in Hong Kong, decided to move back to Hong Kong with her whole family.