Hong Kong investor nets $30 million profit on shops despite 40% price cut

The properties are located in the Cheung Lee Commercial Building and the podium of Wing Lee Building on Kimberley Road. The sale occurred amid concerns over rising interest rates and a weak retail property market.

Separately, in Hong Kong's highly expensive property market, choosing to rent or buy properties with a history of murder or unnatural death can lead to significant discounts. Investor Ng Goon-lau, dubbed the "King of Haunted Houses," negotiates hefty discounts for such properties, leasing them out below market price. Studies indicate that property prices can plunge by an average of 20% after being labeled haunted, with discounts reaching up to 34% in cases of murder, according to Utpal Bhattacharya, Chair Professor of Finance at Hong Kong University of Science and Technology. Properties on the same floor may see a 10% value drop, and even flats in the same building can decrease in value by 7%.