13th September 2023 – (Hong Kong) Local celebrities Julian Cheung Chi-lam and Anita Yuen have recently made a significant investment in Hong Kong’s real estate market. The couple acquired a high-level unit in Chai Wan Industrial City Phase 2, located in Chai Wan, for a substantial amount of HK$8.8 million. The transaction price per square foot for this purchase is recorded at HK$5,744, which is remarkably similar to the price at which renowned actor Simon Yam acquired a unit in the same building two years ago, with a price parity of approximately 11%.
According to available data, the unit in question is situated on the 18th floor, Unit 11, of Chai Wan Industrial City Phase 2, encompassing an area of approximately 1,532 square feet. The transaction took place on 25th August, with the unit changing hands at the aforementioned price of HK$8.8 million, resulting in a square foot price of HK$5,744. It is worth noting that the previous owner purchased the same unit in 2014 for HK$6.9 million, indicating an apparent increase in value of HK$1.9 million, or 28% since the initial purchase.
Real estate investments have become increasingly popular among celebrities in recent years, and Julian Cheung Chi-lam and Anita Yuen’s entry into the property market reflects this trend. The similarity in price per square foot to veteran actor Simon Yam’s previous acquisition suggests a balanced market valuation for units within Chai Wan Industrial City Phase 2. Such investments can provide a stable asset for celebrities and serve as a diversification strategy for their financial portfolios.’