CK Asset sells penthouse in Hong Kong’s Mid-Levels for US$48.5m, sets pricing benchmark

**A penthouse at CK Asset Holdings' luxury project in Hong Kong's Mid-Levels sold for HK$380.77 million (US$48.5 million), setting a new pricing benchmark for the development and for new home sales this year.** The five-bedroom unit on the 20th floor of 21 Borrett Road achieved HK$126,000 per square foot, underscoring a strong rebound in the city's high-end residential segment. The sale is part of a broader trend, with CK Asset having sold four mansions at the project for a combined HK$1.05 billion.</p><p class="summary-lead">**Hong Kong's luxury housing market has seen a string of high-value deals, including purchases by celebrities and business executives.** Actor Eason Chan bought a HK$182.53 million home in Shouson Hill, while a luxury house in Stanley changed hands for HK$220 million, with buyers linked to a Shanghai-listed mining firm. In the first four months of the year, sales of homes priced above HK$100 million surged to 93 units from 37 a year earlier, with total deal value jumping to HK$19 billion from HK$6.6 billion.</p><p class="summary-lead">**The recovery is partly driven by Hong Kong's safe-haven appeal amid geopolitical uncertainties, attracting regional buyers and families reassessing geographic exposure.** Mainland Chinese buyers account for up to 30% of purchases, with ultra-high-net-worth individuals from tech sectors and returning overseas investors also active. This trend signals that Hong Kong remains a stable base for capital preservation and long-term living, even as global markets face volatility.</p><p class="summary-lead">**What to watch next:** Whether sustained demand from mainland and regional buyers will push luxury prices higher, and if CK Asset's remaining penthouses and special units at 21 Borrett Road will set new records.