2025-02-21 28Hse Editor
Over the weekend, Centaline Property recorded 10 transactions for Hong Kong’s top 10 blue-chip housing estates, marking an 11.1% increase from the previous week and continuing a two-week upward trend. Louis Chan Wing-kit, Vice Chairman of Centaline's residential devision, noted that newly launched projects at Kai Tak, priced attractively, quickly became the market's focal point. Many buyers visited the show flats and submitted applications, boosting overall market activity. This enthusiasm has prompted some second-hand property owners to become more flexible with their pricing, expanding negotiation margins. Consequently, second-hand transactions are expected to remain steady this month.
On Hong Kong Island, a notable transaction occurred over the weekend. A high-floor unit in Taikoo Shing’s Po Shan Mansion with a saleable area of 691 square feet and three bedrooms, sold for HK$8.45 million. Originally listed at HK$9.5 million, the selling price represents a reduction of HK$1.05 million, or about 11%, with a price per square foot of HK$12,229. The original owner, who purchased the unit in 2010 for HK$5.24 million, made a profit of HK$3.21 million after holding it for around 14 years, reflecting an appreciation of over 60%.
In South Horizons, a mid-floor unit in Tower 25, with a saleable area of 519 square feet and two bedrooms, sold for HK$6.5 million over the weekend, translating to a price per square foot of HK$12,524.
In Kowloon, Mei Foo Sun Chuen saw about two transactions over the weekend, one more than the previous week. Among these was a low-floor unit in Block 44 on Broadway Street, Phase 2, with a saleable area of 931 square feet and three bedrooms, which sold for HK$8.1 million after negotiations, resulting in a price per square foot of HK$8,700.
In the New Territories, Kingswood Villas recorded about three transactions over the weekend, two more than last week. One of the new transactions was a low-floor unit in Block 13 of Locwood Court, with a saleable area of 551 square feet and three bedrooms, which sold for HK$3.88 million, or HK$7,042 per square foot. The original owner, who bought the unit in January 2013 for HK$2.92 million, made a profit of HK$960,000 after holding it for about 11 years, reflecting a 33% appreciation. Given the currently low buying interest, sellers need to offer more attractive prices to entice buyers.
In Caribbean Coast, two transactions were recorded over the weekend. One of them was a high-floor unit in Block 8, with a saleable area of 550 square feet and two bedrooms, which sold for HK$5.6 million after negotiations, equating to HK$10,182 per square foot.
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