Nomura banker buys HK$75 million house as Hong Kong luxury market steadies
Villa Rosa purchase comes as top banks strike an upbeat note on Hong Kong’s luxury housing market
A Nomura Holdings banker has bought a detached luxury house at Villa Rosa in Hong Kong’s Southern District for HK$75 million (US$9.6 million), highlighting the gradual return of foreign professionals and senior executives to the city’s high-end residential market as prices soften.
Sachin Tulshyan, a Hong Kong-based managing director for equity products at Nomura, acquired the four-bedroom house in Tai Tam on December 5, according to Land Registry records. Nomura did not respond to a request for comment.
House 16 at Villa Rosa, has a saleable area of 3,314 sq ft, translating to about HK$22,600 per square foot.
The low-density development at 88 Red Hill Road comprises 16 detached houses and has long attracted senior executives and business figures.
Land Registry filings show the property had previously been held since 1998 by a corporate owner linked to Ng Chun-wah, a Hong Kong businessman best known for building his fortune in the VCD and DVD manufacturing business in Africa.
Public records show the property was mortgaged in 2022 to virtual lender ZA Bank.
Villa Rosa has recorded several loss-making transactions in recent years, underscoring the depth of the price correction in Hong Kong’s second-hand luxury market.