Shein reports Q2 revenue up 0.9% YoY to $11B and net income down 66% to $228M, in its first report since a Hong Kong IPO; its stock is ~30% below its IPO price (Tracy Qu/Wall Street Journal)

Amid the looming possibility of interest rate hikes, Hong Kong's luxurious property market is seeing a shift in ownership patterns. High-profile individuals, such as model-actress Eunis Chan and billionaire Angela Leong, have decided to sell their expensive properties, according to industry insiders.

Chan, a former model and actress, recently sold a two-bedroom flat in the upscale Mid-Levels district for HK$32.25 million (approximately US$4.1 million). The property, located on the 2nd floor of Tower 2 at Regent On The Park, was listed at HK$36 million in July 2024. After reducing the selling price by HK$3.75 million (more than 10%), Chan made a profit of about 130 per cent, realizing a gain of HK$18.25 million.

Leong, a Chinese billionaire and former business partner of the late casino magnate Stanley Ho, sold a luxury house in Sai Kung for HK$70 million. The detached four-bedroom residence, located at Royal Castle on Pik Sha Road, featured a 2,259 square foot saleable area, a garden, a pool, and a rooftop terrace. Leong bought the property in 2012 for HK$68.8 million, netting a modest profit of HK$1.2 million after holding onto it for 14 years.