Pursuits
Clock Ticks for China Billionaire on Sydney Mansion Sale
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For sale: Five-bedroom mansion featuring handmade terracotta roof tiles and an infinity pool facing Sydney harbor and its iconic opera house. Owner must sell fast.
The Australian government on March 3 ordered Chinese billionaire Hui Ka Yan’s property company to sell the A$39 million ($30 million) Villa del Mare in the upscale suburb of Point Piper within 90 days, after finding the November purchase violated foreign investment rules. It typically takes at least twice that long to sell a more than A$25 million Sydney home, property data provider CoreLogic Inc. estimates.