THE ADDRESS: OPUS HONG KONG, 53 STUBBS ROAD
•THE NEIGHBORHOOD: VICTORIA PEAK
WHO’S BUYING: FOREIGN DIPLOMATS, WEALTH MANAGERS AND CEOS, INCLUDING BRITISH CONSUL GENERAL CAROLINE WILSON AND DANISH WEALTH MANAGER DANIEL AAXMAN
THE POWER MOVE: The Peak has long been Hong Kong’s most prestigious neighborhood—in the 19th century tai-pans, or foreign merchants, lived here, and today some of the wealthiest businesspeople in the country, including Jack Ma, call it home. Zoning restrictions have limited properties primarily to single-family residences, but one of the few high-rise developments to receive approval was Opus Hong Kong. In addition to its unique position in the market, the 12-story tower is architect Frank Gehry’s first residential project in Asia.
Opened in 2012 on a winding hillside road, the curved structure takes a cue from the surrounding forest. Gehry designed it to gently “twist” as it rises, affording each of the 12 apartments a 360-degree view of Victoria Harbour and Mount Cameron. Two duplex units have private pools, while the 10 full-floor residences have access to rooftop swimming pools.
Despite a soft housing market in Hong Kong—home prices in the luxury category have fallen 8 percent in the last 12 months, according to real estate consultancy Knight Frank—Opus Hong Kong has bucked this trend by selling all its units, some at record prices, such as a 5,188-square-foot duplex purchased by Danish wealth manager Daniel Aaxman for $64 million last year. While other neighborhoods like Deep Water Bay make headlines for their mid-nine-figure single-family home sales, Opus’ notable apartment prices highlight its unique power points: world-class design, intimate size and a serene, prestigious location not far from the city’s financial center.