A penthouse at 23 Po Shan Road in Hong Kong's High Peak project sold for US$54 million, or HK$421 million, to a mainland Chinese buyer on April 8. [1]
The unit takes up the entire top floor and has 6,701 sq ft of saleable area, plus a terrace, rooftop, private swimming pool and internal lift access. The sale set a record for High Peak at more than HK$62,000 per sq ft. [1]
The buyer was Shine Action, a company whose director is Zheng Jiang, believed to be a mainland Chinese resident. The deal also carried about HK$27.3 million in stamp duty, after Hong Kong raised the rate to 6.5% in February for transactions above HK$100 million. [1]
The sale comes as luxury home demand in Hong Kong has surged in early 2026. Mainland buyers accounted for more than half of transactions above HK$100 million, according to market data cited in the report. Savills recorded 58 such deals in the first quarter, while Centaline logged 52, up from 15 a year earlier. [1]
High Peak is jointly developed by Asia Standard International, ITC Properties and CSI Properties, and the project has seen more high-value deals draw mainland investors. [1]
