The purchases were made over the last three months through a local firm called Lion Rock, where he is listed as the sole director, Bloomberg reported, citing public filings.
The most recent deal, completed earlier this month, involved two connected units worth HK$121.5 million at Hong Kong Parkview, a prime apartment complex in the city’s Southern District.
Spanning a combined 4,616 square feet, the flats were priced at HK$27,080 per square foot (US$37,130 per square meter), as reported by the South China Morning Post.
A few months prior, he spent HK$109 million through the same company to purchase two adjacent units in another tower within the same development.
Peter Wong, 73, served as HSBC’s top executive in Asia before transitioning to a non-executive chairman role at the bank’s Asian entity.
His role grants him access to the Taipan House, a colonial-era mansion on the Peak, the city’s most prestigious residential area.
The property was acquired in 1983 for its top executive and has housed several former HSBC chairmen before it was handed over to Peter in 2011.
Jeremy also works at HSBC, his LinkedIn profile shows, and serves as a director on another local company, Energy World, alongside his mother Camay Wong and Peter.
His home purchases came as Hong Kong’s housing market was sluggish but was showing signs of recovery.
Home prices in the city have plunged nearly 30% since their peak in 2021 in a downturn driven by higher mortgage rates, reduced demand after many professionals moved out of the city, and a weak economic outlook, according to Reuters.
But private home prices have edged up for two consecutive months, in April and May, marking the first increase after four straight months of decline, data from the Rating and Valuation Department showed.
