Hong Kong Mansion Sets 2025 Record with $140 Million Sale

A newly built mansion in Hong Kong has been sold for HK$1.09 billion (approximately $140 million), marking the most costly home transaction in the financial hub this year.

The property at 1 Gough Hill Road covers over 1,063 square meters (11,442 square feet) and includes five bedrooms along with a private lift; it was sold on Tuesday, as revealed in a transaction filing.

This opulent residence, situated in Hong Kong’s prestigious Peak area, surpasses a HK$1 billion villa sale that occurred earlier this year in Kowloon Tong. Additionally, just last week, a mansion at 15 Gough Hill Road, formerly owned by Chinese billionaire Chen Hongtian, sold for HK$790 million, a price drop of over 60% from the mogul’s 2016 purchase price.

According to a report by Midland Realty last month, Hong Kong’s luxury real estate market has witnessed a surge in activity recently. Factors such as expected reductions in US interest rates, recovery in the city’s financial markets, and a rise in initial public offerings are boosting both price increases and sales.

Moreover, the city is experiencing a rise in rents for high-end properties. Hong Kong led the global increase in luxury rents in the second quarter, with an 8.6% rise compared to a year ago, as per a Knight Frank index.

© 2025 Bloomberg

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