Hong Kong politician Bunny Chan bets US$40 million on luxury market with Stanley purchase

A Hong Kong delegate to China’s National People’s Congress (NPC) bought a luxury residential project in the seaside enclave of Stanley for 44 per cent less than the seller paid six years ago, in the latest sign that deep discounts are drawing wealthy buyers back into the city’s high-end property market. Bunny Chan Chung-bun, also the chairman of the apparel firm Prospectful Holdings and a former district councillor, acquired Villa Mortini at 8 Stanley Beach Road for HK$310 million (US$39.8...