Activity in Hong Kong’s ultra-luxury residential market is picking up, with Swire Properties selling two homes in Deep Water Bay for a whopping HK$2.2 billion (US$283 million).
The two three-storey units at 6 Deep Water Bay Road had saleable areas of about 9,600 sq ft and 5,300 sq ft, with the transactions set to be completed in the first quarter of 2026, the developer said. Both units were acquired by the same buyer.
On a per square foot basis, the deal works out to HK$147,010, “one of the highest achieved in recent years for luxury residential properties in Hong Kong”, according to a statement from the developer.
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“We’re absolutely delighted to have sold these two exceptional houses at 6 Deep Water Bay Road so soon after introducing them in the third quarter this year,” said Adrian To, director for residential at Swire Properties.
“The overwhelming response received from local and international buyers alike demonstrates the market’s appreciation of this premium product, highlights the continued vibrancy and resilience of the luxury residential market in Hong Kong, and reflects the robust demand for world-class residential properties in the city’s most sought-after locations.”
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A 2015 deal for a 9,890 sq ft property at 22 Barker Road on The Peak came in at HK$150,000 per square foot, then the world’s second-most expensive on a per square foot basis. The property was sold for HK$1.5 billion, with the buyer believed to be Alibaba Group Holding’s founder Jack Ma. Alibaba owns the Post.