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Wealthy Buyers Fuel Hong Kong's Luxury Property Boom

12/16/2025

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Summary

Story summary

Raymond Pao Lun-kwok, nephew of late Hong Kong shipping tycoon Y.K. Pao, bought a luxury flat in Repulse Bay for HK$75 million (US$9.6 million) on December 8.
The Grand Garden unit is 2,491 sq ft with four bedrooms.
The previous owner paid HK$80 million for the flat in 2018.
The purchase reflects a trend of wealthy buyers acquiring high-end properties in Hong Kong.

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Story summary

Raymond Pao Lun-kwok, nephew of late Hong Kong shipping tycoon Y.K. Pao, bought a luxury flat in Repulse Bay for HK$75 million (US$9.6 million) on December 8.
The Grand Garden unit is 2,491 sq ft with four bedrooms.
The previous owner paid HK$80 million for the flat in 2018.
The purchase reflects a trend of wealthy buyers acquiring high-end properties in Hong Kong.