Angelababy purchases $242 million apartment

Angelababy has seen good news roll in since the start of the year – she kicked off the year by welcoming her firstborn, and has since shed her pregnancy weight and has headed back to work. Amidst her busy schedules, it has been reported that she has purchased an ultra-luxury home in Hong Kong, estimated to cost a whopping HK$1.35 billion (S$242 million).

The property, which is said to be located in the ritzy Residence Bel-Air, has a stunning view of the Victoria Harbour and boasts exquisite furnishings to match its astronomical price tag.

The 28-year-old is reported to have purchased the house under her mother’s name, as she already has property in Hong Kong under her name. Her mother, who does not have any other homes under her name in the city, will only be required to pay a 4.25 percent property tax, less than a third of the 15 percent that Angelababy would have paid. The total property tax is estimated to cost HK$14 million (S$2.5 million).

The news of the purchase has become a hot topic on social networking site Weibo, with some blasting Angelababy for flaunting her wealth and spending it on unnecessary splurges, while others have defended her by saying that she has been regularly doing her part for charity, and that she has every right to spend the money that she earns on herself.

Photos: PBE Media

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