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Mainland buyers drive $3B Hong Kong luxury home deals

Hong Kong’s super luxury property market has seen 35 transactions worth about HK$23 billion ($2.93 billion) in the past 19 months, with mainland buyers accounting for 80% of deals worth HK$300 million ($38.2 million) or more. Wealthy buyers came from emerging industries like AI, fintech and gaming, or sectors that grew during Covid-19, such as healthcare and logistics. Five deals topped HK$1 billion ($127 million), including three new homes at Mont Verra in Kowloon Tong and a townhouse at 28 Peak Road sold for 1.05 billion HK ($134 million) to gaming platform Zhansheng Network Technology.

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