Bankers Are Snapping Up Hong Kong Lux Homes
There is renewed confidence in Hong Kong housing as buyers enter the luxury market in 2025, including bankers, with some analysts calling for a potential bottoming.
A number of financial executives are reportedly buying luxury homes in Hong Kong with the trend accelerating as of late.
In August, Diana Ferreira Cesar, Hang Seng's former CEO who was recently named HSBC's Hong Kong vice chair, bought a 1,193 square-feett home in the Tai Hang district for $26.6 million ($3.4 million), according to official records from Hong Kong’s Land Registry. In the same month, Morgan Stanley managing director David Wraight purchased two residential units in Wong Chuk Hang for HK$147.3 million. In July,
Throughout 2025, Jeremy Wong – son of HSBC Asia chairman Peter Wong – spent at least HK$231 million buying two parts of connected luxury residential units.
Not Just Financiers
High-end residential demand in Hong Kong has not been limited to just financial executives.
Brian Gu, vice chairman and co-president of electric vehicle maker XPeng, and his wife spent HK$171 million for a house in the Jardine’s Lookout area last month. In June, local pop star Karen Mok 2,153 square-feet three-bedroom flat in the Mid-Levels district for HK$85 million. Also in the Mid-Levels, the sister of ex-Hong Kong chief executive Tung Chee-hwa bought a 3,349 sq ft, four-bedroom unit for HK$119 million.
Unsurprisingly, wealthy buyers from mainland China were the primary driver, accounting for 80 percent of the 35 deals with HK$300 million or more in the last year and a half, according to data from Savills.
Potential Bottoming?
Based on publicly available data, a total of 5,291 Hong Kong homes were transacted in August, marking the sixth consecutive month that sales were above 5,000. According to an index by Midland Realty, the sales of new and lived-in homes rose 10 percent to 42,379 – a four-year high.
«Looking ahead, we anticipate that developers may begin to scale back aggressive price cuts, particularly as inventory levels continue to decline amid steady absorption,» said a recent report by CBRE. «This trend is likely to provide support for overall residential price. Given the improvement in market sentiment coupled with current low financing cost situation, we are cautiously optimistic that we are proceeding to a bottom out.»
