2025-03-28 28Hse Editor
The luxury property market is experiencing a resurgence, with notable high-value transactions recorded. A standalone villa at Floral Villas in Tai Mong Tsai, Sai Kung, was recently sold for HK$88 million, equating to a price per square foot of HK$21,967. The original owner, who purchased the unit 17 years ago, made a paper profit of HK$20 million upon sale.
According to Century 21’s Frankie Liu, the unit in question is a single-number villa in Section A of Floral Villas, with a saleable area of 4,006 square feet and sea views. The villa boasts luxurious interiors and includes an expansive garden of 10,410 square feet and a private swimming pool.
Reportedly, the unit was initially listed for HK$190 million last year. After several price reductions, it was successfully sold recently for HK$88 million, representing a price cut of more than half and a per-square-foot price of approximately HK$21,967.
Exclusive Estate with Only Nine Unique Villas
The agent noted that this unit is a special director villa, one of only nine in the entire estate. Each villa features a private garden ranging from 10,000 to 30,000 square feet. The last similar transaction occurred last year, with a 4,129 square foot executive villa selling for HK$89.2 million, comparable to the current sale price.
The original owner purchased the property in November 2007 for HK$68 million, holding it for approximately 17 years. The recent sale resulted in a paper profit of HK$20 million, reflecting a 29% appreciation in property value over the holding period.
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