Hong Kong actor Chow Yun Fat slashes mansion’s price by $3.2M amid market struggles

The Hong Kong Commercial Daily reported on Monday that Chow’s property, named "Sunshine Garden," was initially acquired by the actor for HK$128 million in 2010. It was put on the market in 2022 for HK$220 million.

The estate covers 236 square meters and includes a 186 square meter flower garden adjacent to it.

Chow has neither resided in nor rented out the property since he bought it. Sources indicate that the actor is particular about who may view the house, restricting access to select potential buyers.

This property is among the highest value real estate holdings in Chow’s portfolio.

He and his family own at least seven houses and a plot of land, collectively worth over HK$1 billion.

In light of the sluggish real estate market in Hong Kong, several celebrities, including actors Carina Lau and Michele Reis, have also reduced their property prices to accelerate sales.

Chow Yun-fat, a beloved local actor who went on to Hollywood fame, has had to slash the asking price of his luxury home in Hong Kong’s most exclusive enclave The Peak by about 14 per cent, according to several property agents.

“The original asking price was HK$220 million [US$28.3 million] and now it’s just HK$190 million,” said Victoria Allan, founder and managing director at Habitat Property, a boutique agency for high-end homes.

(Chow Yun-fat in an iconic scene in the 1986 movie “A Better Tomorrow” directed by John Woo. Photo: Handout.)

Best known for his starring role in the Oscar-winning 2000 film Crouching Tiger, Hidden Dragon, Chow put the 2,547 sq ft, three-bedroom home on the market a few months ago after holding it for 14 years, the agents said.

Allan assesses the fair value price of the Sunshine Villa home at 48 Mount Kellett Road at HK$150 million as there is a lot of supply on The Peak. Reports indicate that the latest offer stands at HK$195 million, reflecting a markdown of HK$25 million or 11.4%, translating to over HK$72,000 per square foot.

Boasting a practical area of 2547 square feet, the villa includes a 2000-square-foot garden and a 700-square-foot rooftop, offering stunning views of the southern district and featuring recent renovations.

Chow Yun-fat acquired this property in 2010 for approximately HK$128 million, setting a record high price per square foot at the time. If the villa sells at the current asking price, the potential profit could reach HK$67 million, marking an approximate 52.3% increase in value over 14 years.

This exclusive villa at Sunshine Villa, though never occupied or leased, is subject to rigorous screening by Chow Yun-fat himself, highlighting the selective nature of potential buyers.

Ref: Hong Kong actor Chow Yun Fat slashes mansion’s price by $3.2M amid market struggles (thestar) Photo Credit-Handout