Hong Kong is the second-most favoured city in the world for super-luxury homes worth over US$10 million (HK$78.2 Million), according to Knight Frank’s Global Super-Prime Intelligence report. The study surveyed residential sales conditions in 12 cities across the world during the first quarter of 2023.

Hong Kong saw 67 deals totalling US$988 million (HK$7.73 billion) for super-prime residential properties during this period.  The top city in the world is Dubai, which had 88 deals amounting to US$1.66 billion (HK$13 billion) for homes in this category.

CITYNUMBER OF SALESVALUE OF SALES (in US$ millions)
Dubai881,655
Geneva19452
Hong Kong67988
London36736
Los Angeles46763
Miami20327
New York58942
Orange County333
Palm Beach30510
Paris339
Singapore37529
Sydney10133
The 2023 Q1 performance of the 12 markets surveyed in Knight Frank’s Global Super-Prime Intelligence Report

The study attributed the “notable uptick in Mainland Chinese buyers, which largely explained the surge in Q1 sales,” to the border reopening in January this year. This was seen when a buyer from the Mainland offered HK$1.2 billion (US$153 million) to purchase a property at 45 Barker Road on The Peak in March 2023.

The SAR is also now the second-most expensive city in the Asia-Pacific region to buy private homes as the median private home price in the city fell by 8.7% to HK$9 million (US$ 1.16 million) in 2022. 

Header image credits: Leung Cho Pan via Canva

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From the Middle East to the Far East and a couple of places in between, Anjali has lived in no fewer than seven cities in Asia, and has travelled extensively in the region. She worked as a lifestyle journalist in India before coming to Hong Kong, where her favourite thing to do is island-hopping with her daughter. You can check out her musings on motherhood, courtesy her Instagram profile.

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