Swire Pacific boss buys US$6.4 million Hong Kong flat as investors’ property faith return
‘Significant capital’ is flowing into luxury homes in a sign of improved sentiment towards Hong Kong’s home market, Midland Realty says
Swire Pacific chairman Guy Bradley bought a luxury property in the Southern district of Hong Kong for HK$50 million (US$6.4 million), as affluent investors continue to show confidence in the city’s home market.
The low-density luxury apartment with a saleable area of 2,832 sq ft, located at 10A-10B Stanley Beach Road, was sold to Bradley at HK$17,655 per square foot, according to Midland Realty.
The chairman “had been searching for an investment on Hong Kong Island because he remains optimistic about the outlook for the luxury residential property sector”, Midland, the city’s largest residential property agency, said in a statement on Sunday.
It added that “significant capital” was flowing into high-quality luxury homes, the latest sign of improved sentiment towards Hong Kong’s home market.
Midland said those luxury homes with investment value were highly sought after by high-net-worth investors.