Ant Group executive pays US$10 million for Hong Kong villa, 35% lower than 2022 peak
Shao Xiaofeng and his wife Li Jian bought a four-bedroom, 3,314 sq ft detached house in Villa Rosa, Tai Tam
Hong Kong’s luxury property market continues to witness heavily discounted sales, with buyers taking advantage of depressed prices.
A four-bedroom, 3,314 sq ft detached house in Villa Rosa, Tai Tam, was acquired for HK$78 million (US$10 million) last week by a senior executive of Ant Group, operator of China’s biggest mobile payment system Alipay, according to Land Registry records.
The buyers were executive vice-president Shao Xiaofeng and his wife Li Jian, according to a property agent. Hangzhou-based Ant Group is a fintech affiliate of Alibaba Group Holding, which owns the Post. Ant Group did not reply to a request for comment.
Villa Rosa, located at 88 Red Hill Road in the Southern district, has 16 detached houses. The latest transaction price was 35 per cent less than another unit sold in the same development three years ago for HK$120 million.
