A buyer bearing the same name as veteran investor Xu Liusheng is the latest owner of a luxury home in Hong Kong after acquiring a HK$342 million (US$43.9 million) unit in the affluent Southern district, with the transaction adding to a growing list of prime assets being snapped up following years of falling prices.
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The buyer shares the name of the owner of Shenzhen Kaifu Investment, who is known for acquiring shares in public companies in mainland China. Shenzhen Kaifu was recently deregistered, according to Qichacha, a business information platform in China.
The Deep Water Bay property – with 3,927 sq ft of saleable area – was purchased on November 14 and handed over to Xu on Thursday, according to Land Registry records. The deal translated to HK$87,089 per square foot.
Xu paid HK$10 million less than the HK$352 million the property’s previous owner, Chen Sze-lok, paid in 2015.
The unit, House 2, features gardens, carports and terraces. It was part of an exclusive development that was completed in 1986 and comprised 12 three-storey homes, according to information on the website of luxury property agency List Sotheby’s International Realty.
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The sale marked the second transaction in the luxury project this year. The 3,889 sq ft House 3 changed hands for HK$319 million – or HK$82,026 per square foot – in September.