Luxury Living in Kai Tak

Charles Li Yuen, the former CEO of the Hong Kong stock exchange operator, and his wife, Rose Lee Wai Mun, have made a significant investment in the luxury real estate market. They acquired a 1,298-square-foot unit at The Knightsbridge development in Kai Tak for nearly $6 million, averaging HK$35,794 per square foot.

A Trend Among Financiers

This purchase is part of a growing trend among high-profile individuals in the finance sector to invest in Hong Kong's luxury property market. Notably, Robin Zeng Yuqun, founder of CATL, purchased a unit in the same development a year ago for HK$33.5 million.

Market Dynamics

Hong Kong's residential transactions have seen a notable increase, with June marking a seven-month high of 5,955 units. The super-luxury segment, particularly properties priced above HK$50 million, has also shown robust demand, with 83 units sold in the first half of the year.

Future Outlook

Experts like Eddie Kwok of CBRE anticipate a decline in inventory levels by the second half of the year, driven by consistent monthly absorption of new units. This suggests a continuing interest in Hong Kong's high-end property market.