2025-02-21 28Hse Editor
This weekend, the top ten estates recorded 12 transactions, marking a 9.1% weekly increase and maintaining double-digit transactions for two consecutive weeks, reaching a 20-week high. There remain three estates with zero transactions. Louis Chan Wing-kit, Asia Pacific vice chairman of Centaline Property’s residential division, noted the absence of new project launches over the weekend led to ongoing sales of leftover units. Some buyers returned to the secondary market. Despite continued low transaction volumes, this weekend set a four-month high, showcasing a robust performance. The market is currently in a waiting mode for a potential rate cut, with a strong atmosphere of anticipation that a U.S. rate reduction could boost the market.
On Hong Kong Island, Taikoo Shing recorded four transactions this weekend, two more than the previous weekend, with an average price per square foot of HK$14,100. A middle floor Unit G in Kam Sing Mansion, with a saleable area of 701 square feet and three bedrooms overlooking the garden, was sold for HK$9.28 million, averaging HK$13,238 per square foot. The original owner had purchased the unit in 1991 for HK$2.47 million and used it for rental purposes, holding it for 33 years. This sale resulted in a profit of HK$6.81 million, approximately a 2.7-fold increase in value.
Another transaction involved a middle floor Unit C in Tung Ting Mansion, with 580 square feet and a two-bedroom layout. Initially listed for HK$7.3 million, the price was reduced by HK$520,000, finally selling for HK$6.78 million, or HK$11,690 per square foot. The original owner bought the unit in 2014 for HK$6.45 million, held it for 10 years, and profited HK$330,000 from this sale, marking an approximate 5% increase in value.
South Horizons Achieves 51.5% Appreciation Over 14 Years
South Horizons recorded two transactions this weekend, one more than last week, with an average price per square foot of HK$13,862. One of the sold units, a middle floor Unit A in Tower 9 with a saleable area of 739 square feet and a four-bedroom layout enjoying a sea view, was sold for HK$10.15 million, averaging HK$13,735 per square foot. The original owner purchased it in September 2010 for HK$6.7 million, held it for 14 years, and made a profit of HK$3.45 million, a 51.5% increase in value.
The Metro City Breaks Two Weekends of No Transactions in Kowloon
In Kowloon, all four major estates registered transactions, with a more active trading atmosphere than the previous weekend. With no new project launches, some locals returned to the secondary market. The Metro City in Tseung Kwan O recorded a transaction this weekend, breaking the streak of zero transactions for the past two weekends, with an average price per square foot of approximately HK$14,950.
Kingswood Villas Reports a Loss of HK$240,000
In the New Territories, among the three major estates, only Fairview Park recorded a transaction while City One Sha Tin and Caribbean Coast had none. The market in Tin Shui Wai was quiet this month. A transaction in Kingswood Villas involved a low floor Unit F in Chestwood Court, with 449 square feet and a two-bedroom layout, sold for HK$3.68 million at HK$8,196 per square foot. The original owner purchased it in March this year for HK$3.92 million, held it for five months, and incurred a loss of HK$240,000 upon exit, a depreciation of about 6% during the period.
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