Key facts
- A company linked to Mico Chung and his wife sold a luxury house on The Peak.
- The sale price was HK$105 million.
- The sale price was US$13.4 million.
- The transaction is seen as another instance of wealthy residents cashing out of the city's high-end housing market.
A company associated with Hong Kong property tycoon Mico Chung and his wife has completed the sale of a luxury residence located on The Peak. The property was sold for HK$105 million, which equates to US$13.4 million. This transaction is indicative of a broader trend where affluent individuals are divesting from Hong Kong's high-end housing market. The sale of the Peak home by Mico Chung and his wife represents another instance of wealthy residents choosing to cash out of the city's premium real estate sector. This move by the Chung family aligns with a pattern observed among other wealthy residents who are reportedly liquidating assets within Hong Kong's prime housing market.