Eric Tsang Just Earned S$16.8mil From Selling This Mansion He Bought For S$705K In 1988
Even fellow celeb Liza Wang, who also owns a mansion in the same property, was surprised at the selling price.
Looks like Hongkong star Eric Tsang just made a huge killing on the property market.
Property prices in land-starved Hongkong have always been super high, but according to this report, 67-year-old Eric just made an enormous profit — we’re talking millions here — from the sale of this mansion he bought in 1988.
The entire development's 34 years old now
According to an insider, Eric had bought a mansion in a landed property development named Rainbow Villas in 1988, two years after it was completed in 1986. At that time, the mansion was valued at HKD$4.03mil (S$705,000), which was the price Eric had paid for the 1789 sq ft house.
After 32 years, it appears that the value has increased astronomically, with Eric selling his mansion to a buyer for a whopping HKD$100mil (S$17.5mil). Yup, your eyes aren’t deceiving you. Eric just earned S$16.8mil from that sale.
The insider then went on to share that the buyer apparently owns another mansion in the same development.
You get to be neighbours with a celeb too
Reports then went on to share that fellow celeb Liza Wang also owns a mansion there, having bought it for HKD$2.93mil (S$513,000) in 1987. She currently lives there as well.
However, it doesn’t seem like she’s the mystery buyer. When reached for a comment, Liza shared that she has no intentions to sell her home, and that the sky-high price of said property was beyond her expectations.
A view worth S$17mil?
Photos: Property Box, Eric Tsang/Weibo, Liza Wang/Instagram
