Land Registry records indicate that a 2,153 square feet three-bedroom unit on Old Peak Road, Mid-Levels District, was sold to buyer Karen Joy Morris on June 12, South China Morning Post reported.
The estate is located in Dynasty Court, a prestigious residential estate featuring five blocks and 409 units.
Mok, aged 55, has released 18 studio albums and appeared in over 40 films. She is the first Hong Kong singer to win China’s Golden Melody Award three times and the first female solo artist to perform at Beijing’s National Stadium, the Bird’s Nest.
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Hong Kong pop diva Karen Mok holds a concert in Nanjing City, east China’s Jiangsu Province, 10 May, 2025. Photo by Imagechina via AFP |
Several wealthy investors have purchased high-end estates in Hong Kong in recent months after prices plunged 45% from peak due to high interest rates.
Another purchase at Mid-Levels District was recorded last month from Shirley Peng, sister of former Hong Kong Chief Executive Tung Chee-hwa. She reportedly bought a HKD119 million apartment.
In April, Ant Group executive vice-president Shao Xiaofeng and his wife Li Jian purchased a 3,314 sq ft, four-bedroom detached house in Villa Rosa, Tai Tam, for HKD78 million, according to property agents.
Despite a sluggish broader property market, Hong Kong’s high-end residential sector is poised for a recovery this year, according to Knight Frank’s Wealth Report 2025.
Hong Kong continues to rank among the world’s leading cities for super-prime property deals, with 166 ultra-luxury real estate transactions recorded last year, it said, as reported by Hong Kong Business.
In the first half this year, Hong Kong’s luxury property market saw heightened activity due to the availability of distressed units offered at reduced prices, it said, adding that this has drawn cash-rich buyers seeking high-value properties at lower costs, Knight Frank said.
“We anticipate up to a 5% drop for residential homes priced between HKD20 million and HKD40 million, while homes valued over HKD40 million are expected to remain stable.”
JLL Hong Kong said in a report in December that prices of luxury residential properties were expected to drop by about 5% this year due to oversupply.
“The decline in home prices since 2021 is not just a cyclical adjustment,” said Joseph Tsang, chairman of JLL in Hong Kong.
“While cyclical factors such as interest rates, economic conditions, and supply-demand cycles can only partially explain the drop, deep structural changes are reshaping market fundamentals and asset values.”
Some developers are lowering their prices to attract buyers.
New World Development Co last week released 138 homes to buyers on Saturday at a record-low price at Southside, a neighborhood that features recent upscale developments, according to Bloomberg.
More than 4,500 potential buyers have registered to purchase.
With residential property prices close to their lowest in eight years, Hong Kong’s market had over 22,000 new home units available as of the end of March, a level deemed risky, according to local property agency Centaline.
