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Asia

Super-rich losing millions as some Hong Kong trophy homes sell at painful discounts

Business - South China Morning Post · 17h ago · 🇨🇳 China

Super-rich losing millions as some Hong Kong trophy homes sell at painful discounts

Hong Kong has seen a string of cut-price deals for super-luxury homes in recent months, with financially pressured owners accepting eye-watering losses to exit the market even as demand for trophy homes remains strong. Among the latest examples is the sale of a Bel-Air luxury house for HK$138 million (US$17.6 million), about HK$37 million below the price the former owner paid for the property in 2018. The 3,792 sq ft house in Pok Fu Lam was bought for HK$175 million in 2018 by Shie Thomas,...

Read the full story at Business - South China Morning Post →

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Meta shares jump 4% as Facebook parent settles major teen addiction lawsuit

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