Chow Yun-fat, the legendary Hong Kong actor, has sold a Mid-Levels flat after more than three decades, securing a roughly 91 per cent gain, as the city’s secondary housing market continues to strengthen.
The 541 sq ft, three-bedroom flat in Corona Tower fetched HK$7.5 million (US$960,000), or HK$13,863 per square foot.
The sale agreement was signed on February 11 and the transaction was registered on March 11, according to Land Registry records.
The deal generated a gain of HK$3.58 million compared with the purchase price of HK$3.92 million. The flat was acquired in May 1995 by Chow Yun Fat Company, a corporate vehicle whose directors include Chow’s wife, Tan Hui-lian, according to data from the Land Registry and Companies Registry.
The transaction marked Chow’s first official residential sale in nearly 16 years. Known in Hong Kong as “Brother Fat”, the actor gained international fame through Hollywood, including a starring role in the Oscar-winning film Crouching Tiger, Hidden Dragon.
The flat was first listed in 2024 at HK$8.99 million, before being briefly withdrawn, and later relaunched. The asking price was cut by 16.6 per cent before the deal was finalised, according to Chinese media reports.
This is not the first time Chow has cut property prices. A unit in Sunshine Villa on Mount Kellett Road on The Peak was put on the market in 2022 for HK$220 million. The price was later reduced to HK$190 million and then adjusted to HK$195 million in late 2024. No transaction has been recorded in the Land Registry so far.
The 70-year-old actor reportedly holds properties across the city, including The Peak, Kowloon Tong, Prince Edward and Sai Kung.
The Mid-Levels sale comes as Hong Kong’s housing market gains momentum amid external uncertainty, led by the primary market. Supported by a stronger yuan and rising prices, the market continues to attract capital inflows and steady interest from both local and mainland buyers.
Midland Realty estimated that some 14,600 second-hand residential deals were completed in the first quarter, up more than 40 per cent from a year earlier and the highest first-quarter volume in five years.
Secondary home prices climbed more than 4.5 per cent during the quarter, marking a near three-year high for the period, while rents rose 1.06 per cent, the biggest first-quarter increase in eight years, reflecting strong housing demand, according to the Midland Property Price Index compiled by the brokerage.
Still, signs of a slowdown in secondary home sales have been seen in recent weeks, as developers continue to launch multiple new projects across the city at competitive prices, drawing buyers away from the secondary market and towards the primary market.
“Improving sentiment has led some homeowners to raise asking prices, making negotiations more difficult for buyers on the secondary market,” said Chan Wing-kit, vice-chairman of Centaline Asia-Pacific and president of Centaline Property.