Zhang Yimou’s Victorian-Style Wuxi Villa Reportedly Sold For S$12.8Mil, Almost Double His Asking Price
According to a real estate agent, the Chinese director was actually willing to sell his lakeside mansion at a huge loss as he needed to let it go “urgently”.
While some celebrities are snapping up properties, Chinese director Zhang Yimou appears to be getting rid of his at a massive loss.
The 70-year-old, who also owns a 150mil yuan (S$31.4mil) mansion in Beijing and an ancestral home in Shaanxi, recently put his Wuxi villa in the market for 35mil yuan (S$7.31mil).
Located within the exclusive Huxi Villa housing community, the mansion occupies a prime spot by the lake.
His father-in-law currently lives in the mansion.
According to the real estate agent, Yimou was looking to sell the property so “urgently” that he could even let it go for 30mil yuan (S$6.26mil).
A semi-finished house in Huxi Villa reportedly costs at least 35mil yuan (S$7.31mil), while a fully furnished one goes for between 40mil to 60mil yuan (about S$8.35mil to S$12.52mil).
Though Yimou's asking price is a lot lower than the other properties in the development, Yimou could still make a mean profit as he paid less than 18mil yuan (S$3.77mil) when he bought the house in 2006.
When news spread that Yimou was letting go of the property, his wife, Chen Ting, responded to reports saying that they were not looking to sell the villa urgently but were just “enquiring” as her dad is old and she wants him to live with her instead.
According to the property listing, the 721 sqm villa covers two floors and a basement. It has a sprawling garden with a gazebo where one can enjoy the picturesque views.
Inside, the villa is decorated like an ornate European palace, complete with luxe Victorian-style interiors, grand spiral staircase, and crystal chandeliers.
The villa was reportedly sold for 61mil yuan (S$12.8mil).
According to sources, the buyer is "someone from their circle" and the property was not opened for public viewing.
Though the villa is relatively old, buyers are willing to pay a premium as it belongs to the legendary auteur and its value could increase several times in the future.
Photos: Jiangsu Evening News, Chen Ting/Weibo
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