The legend of "Tianbihgao": From a big boss's house to the first luxury house in Asia, a century of ups and downs
- HSBC Taipan Era (1900s-1990s)
It was originally the residence of senior executives of HSBC, and all the former chairmen of HSBC have lived here. As a symbol of power during the colonial period, its location on the Peak (554 meters above sea level) offers a panoramic view of Victoria Harbour and occupies prime location resources. - The Fall of Yaohan's President (1990-1997)
The president of Japan's Yaohan, Kazuo Tian, purchased the property for HK$85 million, but the group went bankrupt due to the Asian financial crisis and was sold to Huang Kun of Pearl Industrial in 1997 for HK$370 million. At this time, the Hong Kong property market was at the peak of its bubble, with the transaction price reaching HK$84,000 per square foot (approximately HK$924,000 per square meter). - Collapse during the financial storm (1997-2003)
After Huang Kun purchased the project, the property market plummeted and the project became a bank-owned project (the bank took over the mortgaged property). During the SARS epidemic in 2003, Hong Kong's property market fell to freezing point and the luxury housing market was almost frozen. - Stephen Chow's "Bottom-fishing Myth" (2004-2011)
In 2004, Stephen Chow purchased the land at a low price of HK$320 million and cooperated with Lingdian to rebuild it into four independent houses. Sold in batches since 2009:
- House No. 10: Sold to Chengdu tycoon Xu Suixuan for HK$800 million in 2011 (unit price HK$210,000 per square foot, setting a record in Asia at the time)
- Houses 16 and 18: Sold for HK$630 million in 2009
- House No. 12: Zhou Xingchi lives in the house, currently valued at HK$1.1 billion, mortgage financing in progress
The total return over the past ten years exceeded HK$1.45 billion, with a dividend yield of 353%, making it a classic case of Hong Kong real estate. 3. Stephen Chow’s real estate investment code: precise timing and leverage art
Mr. Xing's title of "God of Buildings" is not in vain. His investment strategy embodies three major characteristics:
