Sunday, August 18, 2019
Martin Hennecke

Secondary homes market quiet as prices edge up
Homes sold for higher prices in a quiet secondary property market over the Chinese New Year holidays, while two buyers forfeited their deposits at new projects.

Among second-hand sales, a 784-square-foot unit at Festival City Phase 2 in Sha Tin changed hands for HK$13 million or HK$16,582 per sq ft, almost 20 percent higher than the average market price, while a 377-sq-ft unit at Amoy Gardens sold for HK$5.8 million or HK$15,385 per sq ft, almost 5 percent higher than the average market price.

Also a three-bedroom, 742-sq-ft unit at South Horizons in Aberdeen changed hands for HK$14.25 million or HK$19,205 per sq ft, HK$750,000 lower than the asking price, while a three-bedroom unit at The Riverpark in Tai Wai, sized 729 sq ft, changed hands for HK$12.99 million or HK$17,830 per sq ft.

Elsewhere, Golden Lion in Tai Wai recorded a 9 percent increase in the average price per square feet to HK$16,649, the second largest increase among blue-chip estates in New Territories East, according to Midland figures.

Meanwhile, Nan Fung Development's LP6 in Tseung Kwan saw its fourth deposit forfeiture this year when a buyer walked away from a 429-sq-ft unit, losing a 5 percent deposit of up to HK$400,000, while The Esplanade in Tuen Mun recorded its first forfeiture, with the buyer losing a deposit of up to HK$150,000.

Previous news : Hysan expects over 10pc sales drop


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