Mainland Chinese investor snaps up Hong Kong luxury home for US$22 million

A veteran private equity investor has bought a luxury home in Hong Kong’s Mid-Levels West for HK$170 million (US$22 million), according to Land Registry records, in one of the latest big-ticket residential deals involving a mainland Chinese buyer. Xu Hanjiang on January 2 acquired Unit A on the second floor of High Peak, a low-density luxury development at No 23 Po Shan Road, records showed. The four-bedroom unit came with a private lift lobby and a balcony, according to the Land Registry. With a saleable area of 4,049 sq ft, the transaction worked out to about HK$41,986 per square foot. Xu was listed as a director of Go Capital Limited, a Hong Kong-incorporated private company, according to records from the Companies Registry. He was appointed in 2010 and had listed the firm’s registered address at Convention Plaza in Wan Chai. Companies Registry records also showed Xu held directorships in several other Hong Kong-registered companies, some of which had since been dissolved. These included Go Capital & EOC Consulting, which shared the same registered address as Go Capital Limited. Xu, also known as Perry Xu, was the founder and managing partner of Go Capital & EOC Consulting, a China-Israel investment platform, according to the company’s website. The firm described itself as a strategic investor in Israeli high-technology companies, focusing on life sciences, digital and 3D printing, cybersecurity and artificial intelligence. Go Capital did not respond to a request for comment. The unit’s price per square foot was slightly below earlier transactions at the development, reflecting continued price adjustments in Hong Kong’s luxury housing market after several years of declines. Demand for trophy homes, however, remains strong, with mainland Chinese buyers increasingly prominent at the top end of the market. In 2025, mainland purchasers accounted for about 80 per cent of ultra-high-end residential deals worth more than HK$100 million on The Peak and in Southern district, brokerage data showed. The figures were based on Putonghua pinyin names in Land Registry records, though some buyers could have been Hong Kong permanent residents. Recent transactions also point to renewed activity among financial professionals as the city’s stock market gains momentum. Last month, a managing director at Nomura Holdings bought a detached luxury house at Villa Rosa in Southern district for HK$75 million, compared with reported acquisition prices of around HK$170 million for similar four-bedroom homes at the same development about seven years earlier. Hong Kong’s luxury homes, prized for their scarcity and ability to hold their value, had become an important safe haven for mainland capital, according to property agency Centaline. The firm forecast a 10 per cent rise in primary luxury home prices and gains of 5 per cent to 10 per cent in the secondary market.