Hong Kong Penthouse Sold for $54 Million to Mainland Buyer

A luxury penthouse in Hong Kong’s Mid-Levels West neighbourhood has sold for HK$420 million (US$53.7 million). The deal signals continued strong demand for high-end property in the city. The top-floor unit at 23 Po Shan Road was bought by a company called Shine Action on April 8, according to Land Registry records. The buyer is believed to be a mainland Chinese resident, based on the name of Shine Action’s director, Zheng Jiang, listed in the Companies Registry. The sale comes after a strong first quarter in Hong Kong’s luxury housing market, where activity remains heated.