Ho Shung Pun’s family sold homes for $250 million in a month
Owners hammered by slumping property valuations, high rates
Unmute
WATCH: Krystal Chia reports on the stresses on Hong Kong’s high-end property market.Bloomberg
Gift this article
Have a confidential tip for our reporters? Get in Touch
Before it’s here, it’s on the Bloomberg Terminal
 LEARN MORE
By Krystal Chia, Venus Feng, and Lorretta Chen
2024年7月30日 at GMT+8 07:00
Save
Some of Hong Kong’s wealthy families have been caught up in the city’s real estate slump after selling luxury homes and other properties at a loss to pay back loans.
Just in the past month, one debt-laden family disposed of seven properties for $250 million in the prestigious Peak district, with some going for hefty discounts. In April, a family-run company sold its stake in the AIA Central building at a $20 million loss. Another clan that built its fortune in retail sold a shopfront at a 60% loss and had other properties seized by receivers.