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

China’s youngest female billionaire has unloaded her triplex penthouse in Sydney, according to a listing for the home, recently updated to say it sold for an undisclosed amount.

It appears Zetian “Nancy” Zhang, a Chinese businesswoman and social media phenomenon, took a hit on the sale of her four-bedroom aerie overlooking Sydney Harbour, amid a slowdown in the city’s housing market.

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The 25-year-old billionaire bought the newly built condo in 2015 for A$16.2 million (US$11.57 million), but was most recently asking only A$15 million for the home after listing it on and off for around a year and a half, according to property records.

The loss is not all that surprising given prices have cooled across Australian cities. Following years of white-hot growth, luxury home prices in Sydney declined for the first time in years, slipping 1% between the second quarter and third quarter of 2018, according to the latest report from brokerage Knight Frank.

The nearly 6,500-square-foot apartment has sweeping views over the city, an architectural spiral staircase, a separate media room and its own elevator, Mansion Global previously reported.

Residents in the building, known as the Stamford, also have access to shared amenities, such as a 24-hour concierge, pool, gym and rooftop terrace.

Ms. Zhang is social media star also known by the nickname “Milk Tea Sister” for an innocent school photo that went viral across China. She bought the home the same year she married Qiangdong “Richard” Liu, founder of e-commerce site JD.com, a union that made Ms. Zhang China’s youngest female billionaire.

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She now leverages her large social media following to promote the various companies with which she invests

Source: Becky Strum/mansionglobal.com

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