Hong Kong Megamansion Hits the Market for HK$2.2 Billion, the City’s Priciest Listing
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A Hong Kong megamansion with views of Repulse Bay has hit the market for a whopping HK$2.2 billion (about US$281.1 million), making it the city’s priciest listing.
The residence is also among the most expensive homes on the market in the world, pricier than the $250 million penthouse at Central Park Tower in New York City, currently the U.S.’s most expensive publicly listed property. In addition, earlier this year, a new mansion in an exclusive Hong Kong neighbourhood known as The Peak reportedly sold for HK$1.2 billion from a mainland Chinese buyer, Mansion Global reported.
The more than 18,000-square-foot residence was completed in 2019, but protests in the city and the Covid-19 pandemic kept the developer from listing the home. Now that they are ready to sell, however, property prices are cooling, according to Victoria Allan, managing director at Habitat Property, which listed the property last week.
“2022 was a rough year in Hong Kong,” Allan said, noting the city shutdowns. “Now that the city is open again, Hong Kong Chinese and mainland Chinese are actively buying for self use. As prices soften, we expect activity to increase as buyers [secure] property for self use at reduced prices.”
For the seller, that may mean being negotiable to a lower price, she noted. Still, the sheer size of the house, its proximity to the water and its location in the tony Repulse Bay neighborhood is likely to attract buyers who are finally able to return to Hong Kong, Allan said. In addition, high-end real estate is very limited in supply because of the island city’s limited building space, she added.
The residence features oversized black casement windows and marble floors and bathrooms, listing photos show. An imperial staircase leads to the main level that has an open layout, and there’s also an elevator.
With 11 bedrooms and eight bathrooms, the house is “ideal for families,” the listing said. There are several outdoor areas, including a roof deck with water views and a lap pool surrounded by a lounging area.
The underlying property was previously occupied by an apartment building, and was purchased by local property firm First Group Holdings in 2014 for HK$350 million, The Business Times reported, citing government data. Representatives from the developer were not available for comment.
Despite falling home prices, Hong Kong’s strict lending requirements have protected the market from the effects of rising interest rates and property owners from being over leveraged, Allan said. “This has helped keep the market more stable, and rising rates have not had as much of an impact on values as other global markets.”
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Dolly Parton’s former Hollywood Hills residence has hit the market for $7.95 million. The nearly 4,700-square-foot home features four bedrooms, panoramic city-to-ocean views, a pool and spa, library, media room and private outdoor spaces.
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A residence in the Hollywood Hills that was once home to the late Dolly Parton has hit the market for $7.95 million.
The country singer and her late husband, Carl Dean, bought the house in 1985 for $750,000 and sold it in 1990 for $1.2 million, according to listing records.
The property, aptly known as the Dolly Parton House, hasn’t been on the market for 25 years, according to the listing with Edward Tinney of Nourmand & Associates and Kurt Rappaport of Westside Estate Agency.
It’s unlikely Parton and Dean would recognize the house as it stands today though; it was rebuilt in 2009, and upgraded further in the years since, the listing said.
Across its almost 4,700 square feet, the house has living and dining rooms with walls of glass that frame the views that stretch across the city to the Pacific Ocean.
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There’s also a library and media room, a family room and an eat-in kitchen. There are four bedrooms, including the primary suite, which has a coffee bar, a fireplace, two bathrooms, a space for an office or gym, a walk-in closet and a private deck.
Outside, there’s a pool and spa, with space for outdoor dining and entertaining. Plus there’s a two-car garage, electrical infrastructure for an EV charger and a Zen trail, according to the listing.
The seller, who couldn’t be reached for comment, paid $2.05 million for the home in 2001, records with PropertyShark show.
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Parton died on August 25 at the age of 80 after a battle with cancer.
She released 50 studio albums over the course of her career—resulting in 27 gold and platinum albums—and starred in films including “9 to 5,” “The Best Little Whorehouse in Texas” and “Steel Magnolias.”
A philanthropist, she was behind the Imagination Library, which donated more than 200 million books to children around the world. In 2020, she helped fund early research for Moderna’s Covid 19 vaccine with a $1 million donation to Vanderbilt University.
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