China’s Youngest Female Billionaire Sells Sydney Home at a Loss

China’s Youngest Female Billionaire Sells Sydney Home at a Loss

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Zetian “Nancy” Zhang the youngest female billionaire in China sold her triplex penthouse in Sydney at a loss. The agency in charge of the home’s listing reported that the home had been sold for an undisclosed amount. Ms. Zhang is a Chinese businesswoman and has a huge following on social media. She has taken a hit in the sale of the four-bedroomed penthouse that overlooks the Sydney Harbour. The city has been experiencing a slowdown in the housing marketing though.

Ms. Zhang, 25, bought the penthouse in 2015 for approximately A$16.2 million (US$11.57) is 2015. It had just been built. The home was listed for only A$15 and in 2017 and sold after a year and a half. This is according to the Australian public property records. The records show that the final sale price was A$13.5 million, which was a loss of A$2.7 million.

The prices of luxury homes in Sydney have been on the decline for the first time in many years. According to reports by brokerage firm Knight Frank, they slipped with 1% from the second quarter to the third quarter of 2018. The loss suffered by Ms. Zhang is, therefore, no surprise. The housing market has been experiencing a white-hot growth all over Australian cities.

The penthouse features 6500 square feet of space and has sweeping views of the city. It has an architectural spiral staircase, own elevator, and a media room. The penthouse is in a building called the Stamford, and it has shared amenities. The amenities include a pool, a gym, a rooftop terrace and a 24-hour concierge.

Ms. Zhang has not responded to any communications regarding the sale of her penthouse. She used the help of Richard Shalhoub from Sotheby’s International Realty to market the penthouse. Mr. Richarch has not responded to any communications either.

As mentioned earlier, Ms. Zhang is a popular social media personality. She goes by the nickname “Milk Tea Sister” on social media. The nickname came from a school photo she took a while back. The photo of an innocent looking schoolgirl went viral in China and made her incredibly popular. Zhang purchased the home in 2015 after tying the know with Qiangdong “Richard” Liu, the billionaire founder of a Chinese e-commerce site called JD.com. It was that marriage that made Zhang the youngest female billionaire in China. The has been investing in various companies and is using her social media influence to promote these companies and investments.

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