A top-floor residence in Hong Kong’s Mid-Levels West neighborhood recently sold for HK$420 million (approximately US$53.7 million). The purchase, made by a company believed to be linked to mainland China, reflects sustained high-end demand in the city's housing market.

A top-floor residence at High Peak in Hong Kong’s Mid-Levels West neighbourhood has sold for HK$420 million (US$53.7 million) as activity in Hong Kong’s high-end housing segment remains heated after a strong first quarter. The penthouse unit at 23 Po Shan Road sold to a company called Shine Action on April 8, Land Registry records showed. The buyer is believed to be a mainland resident, based on the name of Shine Action’s director in the Companies Registry, Zheng Jiang. Momentum at the pinnacle....