2024-02-14 03:22:30
The owners of two housing estates on Hong Kong Island lost a million in the Year of the Dragon. The worst loss in selling properties in 6 years was 6.5 million | Second-hand loss
Entering the Year of the Dragon, losses in the second-hand market continue. A series of housing estates on Hong Kong Island experienced “seven-digit” sales losses. The owners all entered the market in 2017. In the most serious case, one owner left the market with a loss of nearly NT$6.5 million.
Market news indicates that the Shau Kei Wan Xiangdao, which is about five years old, has a mid-floor B unit in Block 5 with a usable area of about 1,055 square feet. It is a three-bedroom suite with a storage room partition. It was taken over by a tenant in the same district for NT$18.5 million. The price per square foot is approximately NT$17,536.
It is reported that the original owner purchased the unit in December 2017 for approximately 24.985 million yuan and held it for more than 6 years. The current resale book loss is approximately 6.485 million yuan, and the property has depreciated by approximately 26% during the period.
Now take a look at Shau Kei Wan Xiang Dao for sale (House730)
The original owner entered the market for a three-bedroom apartment in Hong Kong in 2017, but now he has left the house with a loss of nearly NT$6.5 million. (Information picture)
The three-bedroom apartment G in Purple Birch House in Taikoo Shing is 2 and a half years apart. The cost of a similar unit sold for NT$7.6 million, or about 30% of the flat price. (Information picture)
Investors in Taikoo Shing’s three-bedroom apartments split their prices with “6 goals” and lost money
Blue-chip housing estates have also become popular. It is reported that Room G on the lower floor of Purple Birch House in Taikoo Shing, Quarry Bay, with a usable area of about 1,015 square feet, is divided into three-bedroom suites and enjoys full sea views. After negotiation, it changed hands for NT$17.58 million. The price per square foot is approximately NT$17,320. It is reported that the original owner put the property on the market at the end of February last year for about NT$23.8 million with a lease, and later lowered the asking price in response to market conditions. The final price of the property was about NT$6.22 million, or about 26.1%, after being put on the market for about one year.
The original owner purchased the unit for approximately NT$19.2 million in December 2017 for rent collection and held it for more than 6 years. Now it has incurred a book loss of NT$1.62 million when it was resold, and the property depreciated by approximately 8% during the period. Data shows that the transaction price of a low-rise G-flat with the same floor area reached NT$25.18 million during the peak period of the property market in mid-2021, which means that two and a half years later, the cost of similar units was sold at a flat price of NT$7.6 million, or about 30%.
Take a look at Taikoo Shing, Quarry Bay now (House730)
The original article was published on AM730
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