Eric Tsang’s Real Estate Investments
Eric reportedly made a tremendous profit off a luxurious bungalow he acquired in 1988.
With many artistes putting up their properties for sale recently, Eric Tsang (曾志偉) was also rumored to have sold his 32-year-old Rainbow Villa mansion in Clear Water Bay, Hong Kong for $100 million Chinese yuan – an increase of almost 25 times of its acquisition cost of CNY 4.03 million which he paid for 32 years ago.
Completed in 1986, Rainbow Villa boasts 20 bungalows and offers an expansive view of Silverstrand Beach, with the gorgeous scenery attracting many celebrity occupants including Liza Wang (汪明荃). According to reports, Liza bought her mansion for CNY 2.93 million in 1987 and has been living there since. When interviewed by the press, Liza said that she has become accustomed to the Sai Kung area where she had lived for so many years, and does not plan to profit from selling off her house, despite feeling surprised at the property’s astronomical rise in value.
Real Estate in Japan, China
A veteran in the entertainment industry for nearly five decades, Eric has starred in over 100 productions, and earned much from his frequent work opportunities. With wide social connections in the industry, Eric has a stake in plenty of real estate investments, both in Hong Kong and overseas.
When Alan Tam (譚詠麟) traveled to Japan, he stayed at a ryokan operated by Eric. Alan spilled that Eric owned properties in both Izu and Osaka. Another good friend Natalis Chan (陳百祥) once revealed that Eric was a “Hengdian millionaire” as he invests in local hotels, adding that Eric’s net worth was in the billions. However, this was later denied by Eric indirectly.
This article is written by JoyceK for JayneStars.com.