Chow Yun Fat slashes price of luxury Hong Kong mansion after nearly four years on market

Veteran Hong Kong actor Chow Yun Fat has lowered the asking price of his luxury Peak mansion once again, with the property now listed for HK$160 million (US$20.4 million) after spending nearly four years on the market.The latest reduction brings the total price cut to HK$60 million, or about 27 per cent, since the house was first put up for sale in October 2022, according to Hong Kong newspaper The Standard.Taiwanese media outlet ETtoday also reported that the revised asking price comes amid the city's prolonged property market slowdown, which has weighed on the luxury housing segment.The property is located at Sunshine Villa on Mount Kellett Road, which, according to local property websites, is one of Hong Kong's most exclusive and ultra-luxury residential addresses. The property spans 2,547 sq ft and includes a 2,000 sq ft private garden, a 700 sq ft rooftop terrace and panoramic sea views. At its current asking price, the home is valued at about HK$62,819 per sq ft.The 71-year-old actor bought the mansion for HK$128 million in September 2010, setting what was then a record price per square foot for the estate at HK$50,255.Although the property has undergone extensive renovations, it has reportedly never been lived in or rented out. The Standard also reported that viewings remain highly restricted despite the latest price reduction. Even if the mansion sells at its current asking price, Chow would still stand to make about HK$32 million before taxes and transaction costs.According to ETtoday, Chow owns at least eight properties across some of Hong Kong's most sought-after neighbourhoods, including the Peak, Kowloon Tong and Sai Kung, with their combined value estimated to exceed HK$1 billion.The Standard also reported that Chow and his wife, Jasmine Tan, live in one of those properties – a house on Cumberland Road in Kowloon Tong, which he purchased in 1990 for HK$14.7 million.Known for films such as A Better Tomorrow, The Killer, Hard Boiled and Pirates Of The Caribbean: At World's End, Chow remains one of Hong Kong cinema's most recognisable stars.