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22 Barker Road, Victoria Peak, Hong Kong, was recently sold for a whopping HK$1.5 billion (about US$192 million), shocking the real estate industry. According to multiple sources, the mysterious buyer is most likely the co-founder of Alibaba Group.Jack Ma. This transaction not only made it the most expensive building in Hong Kong with a unit price of HK$1.36 million (US$174,000) per square meter, but also ranked second in the global real estate price rankings, second only to Monaco's top luxury homes.
【Top Property Details】
• Target property: three-story single-family villa with a construction area of 1,099 square meters
• Scenic advantage: 270-degree view of Victoria Harbour, with a panoramic view of the Victoria Harbour skyline
• Historical origin: The original site was the Belgian Consulate, which was converted into two rare luxury homes by Sun Hung Kai Properties in 2015
• Security configuration: equipped with bulletproof glass and independent safe house, meeting the security needs of top wealthy people
Record-breaking Transaction
The unit price of this transaction soared by 31% compared with the record of US$132,000/㎡ set by the Repulse Bay luxury house in 2021, and is only 4.6% away from the second highest price in the world maintained by One Hyde Park in London (US$182,000/㎡). It is worth noting that since the property was listed in 2020, the asking price has been reduced four times from the initial US$320 million and was finally sold at a "bottom price".
[Jack Ma’s real estate history in Hong Kong]
This is not the first time that Jack Ma has invested in high-end real estate in Hong Kong:
– 2019: Purchased a penthouse at Branksome Crest in Mid-Levels for US$38 million
– 2015: Acquired the villa complex at No. 22 Shoushan Village Road for US$193 million through an offshore company
– Investment: According to incomplete statistics, the Ma family owns at least five top-level properties in Hong Kong, with a total value of over US$500 million.
【Market Observation】
• Super luxury housing market strengthens against the trend: Hong Kong luxury housing sales worth over HK$100 million will increase by 45% in 2023
• Capital hedging demand: The proportion of mainland buyers in the first half of the year rose to 28%, a five-year high
• Location value: Barker Road is known as the “Beverly Hills of Asia”, with only 12 properties available for trading.
【Expert Analysis】
"This is not only an endorsement of Hong Kong's status as an international financial center by high-net-worth individuals around the world, but also reflects the risk-resistant nature of super luxury homes as 'hard currency'," said DTZ Greater China President Zhao Jinquan. "The average annual appreciation of Hong Kong's Peak properties is stable at 8-10%. This scarce asset is often seen as a cross-generational allocation of family wealth."
【Related Background】
• Alibaba (9988.HK) 2023 Q2 financial report shows cash reserves of US$66.3 billion
• Jack Ma's philanthropic activities: He donated 150 million yuan this month to support medical research
• Hong Kong property market policy: Stamp duty for high-end talent will be relaxed in 2023, and the tax burden on foreign talent buying houses will be halved
(Note: The transaction details described in this article are still subject to official confirmation. The final information is subject to the documents of the Land Registry)
Jack Ma(September 10, 1964—), ancestral homeZhejiangShengzhou, born in ZhejiangHangzhou,Chinese mainlandentrepreneur,Chinese Communist PartyParty member. Once the richest man in Asia,Alibaba GroupChairman of the Board(Chairman),Taobao,AlipayFounder ofThe Nature ConservancyHonorary Chairman of the Greater China Council,Huayi Brothersdirector. Currently serving asThe University of Hong KongHonorary Professor of the School of Business and Management, with the academic field of "Management and Business Strategy" andUniversity of TokyoResearch institution: Tokyo Institute of TechnologyVisiting Professor, whose research direction is "Sustainable Agriculture and Food Production"
