Cantopop diva Faye Wong sells luxury residence in Wong Chuk Hang for HK$64.5m

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    Faye Wong

    22nd May 2024 – (Hong Kong) Faye Wong, renowned as the queen of the local music industry, recently sold her four-bedroom unit at Marinella, 9 Welfare Road, Wong Chuk Hang for HK$64.5 million, resulting in a profit of over HK$10 million. Interestingly, fellow artist Carina Lau also sold a similar unit in the same residential estate last month, but her transaction price was approximately HK$9.3 million lower than Wong’s.

    Wong’s sold unit is located in Tower 1, Marinella. It has a practical area of 1,949 square feet and features a four-bedroom layout. The initial asking price by the previous owner was HK$80 million, but due to market conditions, it was reduced by HK$15.5 million, or 19%. Eventually, the unit was sold at the end of last month for HK$64.5 million, equivalent to a price of HK$33,094 per square foot.

    Having held the property for over 12 years, Wong’s unit was previously owned by Clayton Worldwide Holdings Limited, an overseas registered company. The company had acquired the unit for over HK$52.33 million in 2011, and the purchase documents were signed by Wong’s manager, Chen Jiaying. It is understood that Wong herself was the actual occupant of the unit.

    In addition to the unit, Wong also purchased a parking space in the estate for HK$1.7 million. Taking into account the parking space cost, the total investment for Wong amounted to HK$54.036 million. Based on the recent transaction price, Wong achieved a book profit of nearly HK$10.464 million from holding the property for over 12 years, representing a 19.4% appreciation.

    Comparatively, a research revealed that Carina Lau, another artist, acquired a unit in the same development in 2011. One of her units was situated on a higher floor than Wong’s sold unit, with an identical size and layout. Last month, Lau sold her unit, including the parking space, for HK$73.8 million, at a price of HK$37,865 per square foot. This indicates that Wong’s unit sold for approximately HKD 9.3 million or 12.6% higher than Lau’s unit sold a month ago.