Introduction
Mainland Chinese investors are now at the forefront of Hong Kong’s ultra-luxury property market—a trend that’s reshaping demand and economics at the super-prime level.
Market Snapshot
According to Savills, Hong Kong’s super-luxury market recorded 35 transactions valued at approximately HK$23 billion (US$2.93 billion) over the past 19 months. Remarkably, buyers from mainland China accounted for 80% of these deals, with 24 acquired in 2024 and nine in the first seven months of 2025.
Regional Focus of Purchases
These premium acquisitions are concentrated in prestigious locales—from The Peak and Jardine’s Lookout down to Kowloon’s Kai Tak and Kowloon Tong. A standout case saw the Meitu co-founder’s wife purchase a detached HK$465.8 million (US$60 million) property in Jardine’s Lookout, a 22% discount off its original HK$600 million asking price.
What’s Driving Demand?
- Emerging Industries & Wealth: Many mainland buyers are entrepreneurs from rapidly growing sectors like AI, fintech, gaming, healthcare, and logistics—industries that flourished during and after the pandemic.
- Policy Shifts Supporting Buying Power: The removal of property cooling measures—including Buyer’s Stamp Duty and additional levies—and eased loan-to-value limits have boosted mainland purchases across price brackets.
- A Sustained Trend: Mainland buyers accounted for over 11,600 transactions in 2024—a 90% increase year-on-year—equating to HK$130.5 billion (US$16.7 billion) in total and making up 24% of all deals.
Implications for Developers and the Market
- Supply and Demand Dynamics: Ultra-luxury housing suffers from limited supply. This scarcity, coupled with accurate pricing corrections, is fueling demand.
- Market Resilience & Investor Confidence: The mainland influx is stabilizing Hong Kong’s premium property market and paving the way for long-term recovery, even amid broader uncertainties.
Conclusion
The ultra-luxury segment in Hong Kong is undergoing a transformation—driven largely by affluent mainland buyers looking to diversify capital, secure residences, and capitalize on favorable policy changes. With approximately 80% of transactions in this category now attributed to mainland purchasers, it’s clear that the city remains a pivotal hub for premium property investment.
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