Sachin Tulshyan, a Hong Kong-based managing director overseeing equity products at Nomura, bought the four-bedroom property at Villa Rosa in Tai Tam area on Dec. 5, according to Land Registry records, as reported by South China Morning Post.
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Houses in Tai Tam area in Hong Kong on September 12, 2023. Photo by AFP |
The house has a saleable area of 307 square meters, implying a price of about HKD244,000 per square meter.
It is located in a low-density development consisting of 16 detached houses. The area has long been favored by senior executives and prominent business figures.
Land Registry documents show the property had been held since 1998 by a corporate owner linked to Ng Chun-wah, a Hong Kong businessman known for building his wealth in the VCD and DVD manufacturing business in Africa.
Public records also indicate the house was mortgaged in 2022 to virtual lender ZA Bank.
Villa Rosa has seen several loss-making transactions in recent years, highlighting the extent of the price correction in Hong Kong’s second-hand luxury housing market.
In June, another four-bedroom house in the same development was sold for about HKD82 million by Winland Group, which has been selling assets at sharp discounts amid weak market conditions.
Tulshyan’s purchase places him among other senior corporate figures in the enclave. A neighbouring house was bought last year for HKD78 million by Shao Xiaofeng, an executive vice-president of Ant Group, a fintech affiliate of Alibaba Group Holding.
The Southern District and The Peak are among Hong Kong’s most prestigious residential areas and have been at the forefront of a broader recovery in the city’s luxury housing market after years of falling prices.
The two districts recorded 174 primary and secondary market transactions in 2025, with total deal value rising 21.2% year on year to HKD19.9 billion, according to brokerage data.
This marked the highest annual turnover since 2021, when transaction value reached HKD26.1 billion at the previous market peak.
Major lenders including Citi, Morgan Stanley, JPMorgan Chase and UBS have recently adopted a more positive outlook on Hong Kong’s residential property sector, coinciding with a pick-up in capital markets activity such as a rebound in IPOs and equity fundraising.
