Introduction

In a surprising turn of events, renowned Hong Kong actor Nick Cheung Ka-fai has significantly slashed the asking price for his extravagant four-bedroom apartment at Grenville House, located in the prestigious Mid-Levels area. The new asking price is set at HK$135 million, only a slight increase from the HK$131 million he paid for it seven years ago.

Market Trends

This modest rise of HK$4 million hardly offsets the financial implications that Cheung might face due to related expenses. Cheung made the purchase back in 2017 when the property market was on an upswing.

Current Situation

However, things have taken a different trajectory since then, with real estate values in the prestigious Grenville House witnessing a steady decline. The luxury condominium is known for attracting high-profile residents, including the likes of actress Priscilla Ku.

Property Details

The spacious unit spans an impressive saleable area of 3,366 square feet and was initially listed for HK$200 million in mid-2020, reflecting the premium status of the property at that time.

Recent Withdrawals

However, in May 2023, Cheung made the surprising decision to withdraw the apartment from the market entirely, leaving many to speculate about the future of this high-end piece of real estate.

Conclusion

As Hong Kong continues to grapple with fluctuating property values amid economic uncertainties, the question remains: will this latest price drop attract a buyer, or will it further complicate Cheung's financial situation? Stay tuned as developments unfold in this intriguing real estate saga!