Taiwan-born actress Shu Qi, one of the highest paid screen stars in China, has bought a home at one of Hong Kong’s most prestigious developments in Mid-Levels West for HK$127 million (US$16.18 million), or HK$51,000 per square foot.
Information from the Land Registry shows that a buyer under the name Lin Li-hui, Shu’s legal name, acquired the 2,499 square duplex at the development known as yoo 18 Bonham in June.
Shu moved from Taiwan to Hong Kong at the age of 17 to pursue a modelling and acting career. The artistically acclaimed actress has won several awards, including Best Actress at the 2005 Golden Horse Awards for her performance in the film Three Times.
Centaline Property Agency, the sole agent of yoo 18 Bonham, confirmed that Shu is the buyer.
“She got a pretty good deal for a four-bedroom ocean view luxury flat in Mid-Levels West,” said Raymond Li at Centaline. “Higher prices are likely in the development’s later tender sale.”
Derek Chan, head of research at Ricacorp Properties, agreed that the price is not that high for a unit in Mid-levels West.
“They love the ocean view and the low density in the neighbourhood,” said Derek Chan, head of research at Ricacorp Properties. “Even Victoria Harbour in North Point, which is not a traditional prime location for luxury flats offers some of its units at HK$50,000 on a per-square-foot basis.”
Hong Kong’s ultra high luxury housing prices have not stopped celebrities from buying homes in the city.
In May, Hong Kong singer Joey Yung bought a 3,341 sq ft home in Repulse Bay for an estimated HK$200 million. Last year, 53-year-old actor Nick Cheung Ka-fai bought a 3,366 sq ft flat for HK$131 million in Grenville House, Mid-Levels, while actress Angela Yeung Wing, better known by her stage name Angelababy, acquired a flat in Residence Bel-Air, Pok Fu Lam, for HK$36 million.
Among her previous property transactions, Shu bought a unit in the luxury developement The Beverly Hills in Tai Po in 2011 for HK$18.3 million.
Property agents said the recent celebrity purchases should be seen as a vote of confidence in the city’s housing market.
“People are adopting a bullish outlook on the Hong Kong property market,” said Chan. “Ultra rich buyers are taking this chance to purchase their dream homes.”
The project was designed by London-based YOO Studio with local developers Queen Cheers Development and Winston Development.
The Bonham Road project features 12 luxury flats ranging from 1,228 sq ft to 3,721 sq ft. Each unit features private lift access.
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