Chow Yun-fat, hard as nails in movies, cuts home price by 14% as he succumbs to market dip

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Cutting the price of his home on The Peak, the film star joins other celebrities and tycoons selling high-end homes at a discount

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An aerial view of residential buildings on The Peak. Photo: Roy Issa

Cheryl Arcibal

Published: 6:00pm, 9 Dec 2024Updated: 11:07am, 10 Dec 2024

Even the actor famed for playing tough-as-nails characters in Hong Kong classics like The Killer and Hard Boiled is taking a beating amid a slump in the city’s luxury property market.

Chow Yun-fat, a beloved local actor who went on to Hollywood fame, has had to slash the asking price of his luxury home in Hong Kong’s most exclusive enclave The Peak by about 14 per cent, according to several property agents.

“The original asking price was HK$220 million [US$28.3 million] and now it’s just HK$190 million,” said Victoria Allan, founder and managing director at Habitat Property, a boutique agency for high-end homes.

“Brother Fat”, as he is known in Hong Kong, is not the only celebrity who has had to adjust expectations amid the moribund market. Prominent tycoons have also had to unload properties at deep discounts in recent months.

Chow Yun-fat in an iconic scene in the 1986 movie “A Better Tomorrow” directed by John Woo. Photo: Handout.

Best known for his starring role in the Oscar-winning 2000 film Crouching Tiger, Hidden Dragon, Chow put the 2,547 sq ft, three-bedroom home on the market a few months ago after holding it for 14 years, the agents said. Allan assesses the fair value price of the Sunshine Villa home at 48 Mount Kellett Road at HK$150 million as there is a lot of supply on The Peak.