Date
16 July 2019
Leung Leung-shing speaks at the Federation of Hong Kong Guangdong Community Organizations' Chinese New Year dinner last month. The tycoon's home is said to be the priciest in HK in rental value terms. Photo: CNSA
Leung Leung-shing speaks at the Federation of Hong Kong Guangdong Community Organizations' Chinese New Year dinner last month. The tycoon's home is said to be the priciest in HK in rental value terms. Photo: CNSA

Hong Kong’s most expensive homes in rental value terms

Wondering who in Hong Kong might possibly be living in more luxury than the city’s richest man, tycoon Li Ka-shing?

It’s anyone’s guess, but if you go by some data there are at least two mainlanders who are ahead of Li when it comes to living in extravagant real estate.

Leung Leung-shing, chairman of C-Bons Holdings (International), had an estimated annual rental value of close to HK$13.5 million for his home at 89 Deep Water Bay Road in 2018. That was up three percent compared to the previous year.

The tycoon, who chairs the Federation of Hong Kong Guangdong Community Organizations, was the champion in this category in the last five years.

The businessman had a net worth of 10 billion yuan, according to the Hurun Rich list. Born in Meixian district in Meizhou city in Guangdong province, Leung set up a factory in Wuhan that makes bathroom products.

He beats his neighbor and Hong Kong’s No. 1 tycoon, Li Ka-shing, who lives at No. 79 Deep Water Bay Road.

Li’s house had an annual estimated value of HK$963.6 million, up 2.5 percent over 2017, ranking No. 3 in terms of the rental value in Hong Kong.

Lying in between, in the second spot, is Tencent chairman Pony Ma, whose 13 Big Wave Bay Road residence had an estimated annual rental value of HK$12.45 million.

Rounding off No. 4 was the owner of 1 Mount Nicholson, which had an annual estimated rental value of HK$9.55 million.

And next, we have Joseph Lau’s palace on Goldsmith Road, Jardine’s Lookout, which had an annual estimated rental value of HK$8.23 million.

Taking a look at the figures, we realize that the rental value of the homes of the fat cats is more than the entire property value of the average homeowner in the city.

Just another grim statistic in this grossly unequal society! 

– Contact us at [email protected]

RC

EJ Insight writer

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