Finnish agent wins US$30.45 million penthouse listing in Hong Kong

A Finnish national turned a two-week trip to Hong Kong in early 2019 into a new career in luxury real estate. Minna Honkanen, now a senior manager at Landscope Realty overseeing the Hong Kong market, is marketing a penthouse duplex valued at HK$238 million (US$30.45 million).

Minna Honkanen could not have anticipated the seismic events that would grip Hong Kong after she decided to try her luck there in early 2019. Two months after her arrival, unprecedented social unrest engulfed the city, followed immediately by the coronavirus pandemic, which shut borders and restricted travel for more than two years. The Finnish national least imagined she would become a luxury property agent in one of the world's most expensive real estate markets, securing exclusive deals typically reserved for local brokers with a language advantage.

Now a senior manager overseeing the Hong Kong market at Landscope Realty, Honkanen is busy marketing a penthouse duplex worth HK$238 million (US$30.45 million) at The Arch above Kowloon Station. The owners, who have held the property for 10 years, granted Landscope an exclusive listing after four years of regular contact with her by text.

Before finding success in Hong Kong, Honkanen worked in Greece and Portugal, where she joined the sales team of a hotel group. She also had a stint in Thailand before visiting Shanghai at the suggestion of a Chinese friend based in Finland.

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Illustration of President Lee Jae-myung's Seongnam apartment displayed for sale below market price, featuring the president and first lady, for property market stabilization news.
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President Lee Jae-myung puts private home up for sale below market price

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President Lee Jae-myung has put his private home up for sale at a below-market price to help stabilize the property market, Cheong Wa Dae said on February 27. The apartment in Seongnam, south of Seoul, is jointly owned with first lady Kim Hae-kyung and measures 164 square meters, purchased in 1998 for 360 million won. The move aligns with the government's push for multiple-home owners to sell ahead of the end of a temporary capital gains tax suspension in May.

Rich buyers are reshaping ultra-luxury property markets from Sydney and Hong Kong to Dubai, drawn by each city's unique selling proposition. In Sydney, Peter Li, general manager at Plus Agency, said commission revenues on super-luxury homes had risen about 20 per cent from a year earlier. The mood is similarly upbeat in Hong Kong.

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Sweden's enforcement authority Kronofogden has priced the bankrupt housing association Femmans hus, known as the Chinese Wall, at 60 million kronor in Rosengård, Malmö. The property needs major renovations estimated at 40–50 million kronor, according to housing company Trianon. A viewing took place on Tuesday morning for potential buyers.

Hong Kong's Secretary for Development Bernadette Linn Hon-ho said dedicated laws for the Northern Metropolis may speed up some projects by about one year. She revealed the government is preparing to increase the residential component of some sites to appeal to developers. The government unveiled a plan for six subsidiary laws earlier this month to remove bottlenecks in the massive scheme.

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Adam John Egon Karlsson and Anna Linn Sofie Jakobsson have purchased a townhouse at Bältegatan 24 in Malmö for 6,250,000 kronor. The property, built in 1933, has a living area of 120 square meters. The ownership transfer was completed in February 2026.

The US investment bank JPMorgan has signed to lease 250,000 sq ft in Artist Square Towers, which will house its Kowloon operations from late 2028. Targeted for completion in 2027, the development comprises three harbourfront blocks offering about 672,000 sq ft of premium office space and 27,000 sq ft of retail space.

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Hong Kong's traditional 'upstairs' outlets are shifting to street-level spaces amid falling rents and weak demand. Hing Kee Java Edible Bird’s Nest (HK JEBN) will open another ground-floor outlet in Tsim Sha Tsui next week as part of this trend.

 

 

 

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