Hong Kong actor William Chan has reduced the asking price for his three-bedroom apartment from HK$34 million (US$4.38 million) to HK$26.8 million, a discount of over 21%.
Hong Kong actor William Chan. Photo from Chan’s Instagram |
According to Dimsum DailyChan initially put the property, located in Tower 1 of The Pavilia Hill—a development known for its high-profile residents in Hong Kong’s Tin Hau area, on the market in 2022. It is on a lower floor and boasts a saleable area of 1,078 square feet (100.1 square meters) and includes a 161-square-foot platform.
Chan originally bought the apartment around 2015 for HK$26.5 million as a gift for his mother, though it was primarily used as an investment property, generating a monthly rent of around HK$60,000. If sold at the current asking price, the appreciation over nearly a decade will stand at just HK$300,000 or about 1%, which might barely cover the costs associated with the sale, potentially leading to negligible profit or even a loss.
In light of the sluggish real estate market in Hong Kong, several celebrities, including actors Carina Lau and Chow Yun Fat, as well as Miss Hong Kong Michele Reis and her husband Julian Hui, have also reduced their property prices to accelerate sales.
Chan, 39, debuted in the entertainment industry as a member of the Cantopop group Sun Boy’z in 2006. He left the group in 2008 to pursue a solo career, releasing his debut solo album that same year, and made his screen debut in 2009.
Since 2013, he has gradually shifted his career focus to mainland China.
Comments are closed.