Former Banker Sells $41 Million Home, Then Rents on Hong Kong's Exclusive Peak
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A former finance executive has sold a luxury home in Hong Kong for HK$319 million (US$41 million) and immediately leased a different property in the city's most prestigious neighborhood, according to official records.
Lawrence Lam Yuk-kun sold the house in the affluent Deep Water Bay area. He then signed a lease for a 4,715 sq ft house on The Peak's Gough Hill Road. The monthly rent is HK$525,000.
Lam is an independent non-executive director at Sany Heavy Industry. The company is China's largest construction machinery manufacturer.
The property records show a clear shift between two of Hong Kong's most exclusive districts. The move highlights continued high-value activity in the top end of the city's real estate market.