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Current Affairs

Hong Kong trophy-home demand runs deep, as Stanley luxury sale tops US$19m

A buyer with the same name as the founding chairwoman of a global immigration consultancy has bought a detached house in a luxury residential development…

By Samantha Johnson / August 10, 2026

A buyer with the same name as the founding chairwoman of a global immigration consultancy has bought a detached house in a luxury residential development in southern Hong Kong for over US$19 million, adding to a string of big-ticket deals as demand for trophy homes remains resilient despite a broader slowdown.

Yi Bing signed an agreement for the purchase of House 11 at One Stanley on Wong Ma Kok Road on July 27, according to Land Registry records. The four-bedroom, 3,336 sq ft detached house sold for HK$151.08 million (US$19.26 million) or HK$45,288 per square foot.

Companies Registry records list a Yi Bing as a director of GlobeVisa Group (Hong Kong), the local entity of GlobeVisa Group, as well as Wenya Charity Foundation. GlobeVisa declined to comment on the transaction, citing the privacy and asset confidentiality of its clients and management.

One Stanley has seen multiple trophy-home deals recently. On July 27, a buyer named Zhang Haiming bought House 25 for HK$162.82 million, Land Registry records showed. And in February, the family behind one of Mongolia’s largest mining conglomerates also bought a waterfront home for HK$247 million, with the buyer intending to use it as a retirement residence.

The latest transactions come as activity in Hong Kong’s luxury residential market has become more subdued, with uncertainty over mainland taxation of offshore investments and a slowdown in overall market momentum weighing on sentiment. Still, several large deals have underscored the depth of demand at the top end.

A buyer linked to the richest family in Ningbo acquired a luxury villa in Hong Kong’s Tai Po area for HK$145.6 million on July 17, according to the Land Registry.

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