Seoul faces its first severe heatwave warning as record-breaking temperatures sweep South Korea, causing 16 fatalities and straining power grids while officials deploy emergency cooling measures.
Seoul prepares for its first severe heatwave warning as South Korea faces record-breaking heat, with Yangsan hitting 42.5C, 16 heat-related deaths, and extensive measures to protect residents.
A 6,701 sq ft penthouse at High Peak on 23 Po Shan Road sold to mainland buyer for over HK$416 million (HK$62,000+ per sq ft), setting a project record. The buyer used company Shine Action, whose director is Zheng Jiang. The transaction attracts HK$27.3 million in stamp duty after rates rose to 6.5% in February. Savills recorded 58 HK$100M+ transactions in Q1, with mainland buyers comprising over half.
Mainland Chinese buyers are restoring liquidity to Hong Kong's ultra-prime property market, with property tycoon Zhao Zhijun selling two units at 8-12 Peak Road (Infinity) for HK$320 million (US$40.8 million), realizing an 86% gain on his 2010 purchase of HK$171.8 million. The April 27 sale through companies directed by Zhou Mengfan reflects renewed demand in Hong Kong's trophy home segment.
Hong Kong actor Chow Yun-fat sold a 541 sq ft flat in Corona Tower, Mid-Levels for HK$7.5 million (US$960,000), securing a 91% gain on the property purchased in 1995 for HK$3.92 million. The transaction, registered on March 11, marked his first residential sale in nearly 16 years.
