Real estate in any region is always worthy of inspection, a fine harbinger charting the state of the economy, mood of a city, and even demarking times of historical significance. Just ask Georgina Atkinson of Origin Private Office, who only works on prime global real estate and ultra-luxury properties for a clientele with global interest.
Several images, graphs, and reports on Hong Kong property and rental price indexes show dramatic highs followed by incremental dips, and, almost inevitably, staggering heights again. But if you take a step back, you’ll notice the overall arc, an incline that has grown exponentially over the past century. In a world with no surefire bets, dealing in property in Hong Kong has served UHNW individuals exceedingly well.
In conversation with Origin’s new Private Office, dedicated to “ultra-prime” real estate, Robb Report Hong Kong learns about how the company deals bespoke client services within the real estate sector to VVIPs.
“At the moment, we don’t have an office in Hong Kong, or currently a project in the city, but we do have many clients who are based in Hong Kong, which brings me back often,” says Atkinson as we mull over the markets. “I’ve had the privilege to travel back and forth to Hong Kong regularly and it is considered a global powerhouse and financial hub that attracts foreign talent and foreign investment, which has an impact on the real estate sector, and because of the geological scarcity of land, it supports prime pricing in real estate.”
“Despite market trends, which obviously come and go in every real estate market around the world, Hong Kong continues to witness strong demand for ultra-prime real estate from both local and international buyers.”
Chances are, this will never change. Looking at the property sales graph of Hong Kong, it appears like the erratic heartbeat of an island, one where luxury property prices are surreal. Ultra-high net worth individuals in Hong Kong don’t just dabble in real estate—their net worth and it are one and the same.
“In Asia, wealth preservation and diversification in real estate is a primary purchasing driver,” says Atkinson, “and we see Asian ultra-high net worths view prime real estate as a store of value, and, of course, as a hedge against inflation.
“We see sustained demand for ultra-luxury real estate, both domestically in Asia, and internationally; and we continue to see this appetite for homes in the ultra-prime, ultra-luxury segment of the market. Buyers from Asia enjoy exclusivity, privacy, access to the very best amenities and service, and, of course, they enjoy unique, beautifully tailored finishes.”
What has changed in recent years is the role of women in wealth. The recent tangent brought to business has not gone unnoticed by savvy purveyors of property ownership. And the number of female-led ones is only growing.
“We’ve seen it increase considerably, and I think this will only continue,” agrees Atkinson, who herself mentors women working in real estate, and counsels high-net-worth women buyers. “Particularly in Asia. Today, more than ever, we are seeing women make an enormous difference in business, but also, obviously, that then transpires into the wealth side of many women now owning real estate in different markets around the world. We are acting for several prominent Asian women at present who are building portfolios in different markets. For example, I was recently in New York with some celebrity clients of ours from Asia—myself and my colleague took them over for the weekend to view property in Manhattan. We looked at real estate, we ate together, we shopped together, we met some of our partners on the ground together. It is incredible to see the rise of female wealth.”
For the Origin team, led by Ross Savas, Georgina Atkinson, and Scott Tanner, Zoom calls are part of the gig, and so is hopscotching the world, either to meet a client or to view developments in the most stunning—you know it—location, location, locations!
“I’m in Dubai now and it’s a wonderful time to get business done. The UAE market is fast paced and very exciting—we continue to see buyers from around the world gravitate to Dubai in particular, and we are now witnessing new developments come forward every day. I think the UAE government has created some extraordinarily strong initiatives, and they are putting incredible infrastructure into place for their residents. From a lifestyle perspective, there are many pluses.”
As with any agency of this calibre, there really is no singular country that has all its attention, but a global market that includes Australia, Singapore, Japan, South Korea, the US, the UK, and the UAE. Also of note, the recent global health crisis shifted the wants and needs of buyers who turned introspective, looking at health as a priority.
“We absolutely see wellness now as a preference when it comes to purchasing real estate,” concurs Atkinson. “On the development side, we see many offerings of customised health and fitness programmes that are delivered in-house. We are seeing fully integrated medical facilities; we’re seeing open space be prioritised more so than ever. And we are seeing the incorporation of multi-functional wellness spaces into home design from the outset. Healthcare and wellness is definitely become an increasing trend that we’re seeing particularly in the new development segment of the market.”
One of the many perks of the job, Atkinson gets a first look to locations that will eventually be sold for staggering figures. The world loves to get a glimpse of how the one per cent lives.
“I have just returned from New York; there is a building that is complete, called 111 West 57th Street, which sits central on Central Park South. It is the former Steinway Building—it is incredibly elegant and truly unique,” says Atkinson, listing off some of the most memorable places that are, or soon will be, on the market. “The developer is Michael Stern’s JDS Development Group. SHoP Architects designed the exterior, and AD100 designer Studio Sofield designed the interiors. What it has brought to the table, probably for me, is one of the most iconic residential buildings in the world. You have the sweeping full floor and duplex residences overlooking the park; however, what also it really represents is a marriage of the old and the new: the former historic Steinway Building co-existing with the new tower that rises above.”
And what of properties in Asia that have caught her—and many Asian buyers’ eye? “In Asia, in respect of city destinations, I love Aman. I think Aman creates incredible spaces and homes. The brand really sets a benchmark when it comes to the ultra-luxury segment of the market. On that level, if you just look at, for example, Aman in Azabudai Hills, Tokyo; this is Aman’s very first standalone private residences. Overlooking Tokyo Tower, you have residences that really offer owners a sanctuary within the city, surrounded by art, dining, cultural experiences, and an international school, all within a beautiful urban green space in central Tokyo. Aman across Asia and globally deliver a truly special product.”
For those seeking something off the beaten path, there’s always the exotic, the eccentric, the island, and the not-on-the-map destination that can intrigue the average billionaire buyer. “I recently had the privilege of spending time in Nihi Sumba in Indonesia; this was developed by Christopher Burch and James McBride. I can only describe it as magic. I’ve been lucky enough to experience many ‘luxury’ hotels around the world. However, this, for me, is, hands down, one of the most magical places on earth. It is barefoot luxury, leaning into its finest. You have the hotel, and then you have a handful of very special private residences. Owners of the residences in Sumba are offered award-winning, uniquely designed villas, which really make you feel you are sitting on the edge of wilderness. You have an array of wonderful amenities, wellness activities, and programming on your doorstep coupled with exceptional local Sumbanese service, which only enhances what I would call ‘paradise.’ The Nihi Group are currently developing their new resort and private residences in Santo Tomas, Costa Rica, which will be coming forward in 2026—given what has been created in Indonesia, I have no doubt that Costa Rica will be just as magical.”
All in all, when it comes to today’s UHNW market, it’s not just square foot that is considered, but amenities, the news, the weather—everything is a touchpoint that can affect the mood of the market. “I wake up to Bloomberg! But of course, absolutely, so many things affect a client’s proclivity to purchase—and rightly so. Currency, the weather, political and economic stability, education, transport, amenities, cultural destinations. There are many factors that go into that decision of where to purchase property.”
