Sunday, June 16, 2019
Martin Hennecke

Secondary home sales pick up
<p>Hong Kong&#39;s 10 major housing estates recorded 47 transactions over the weekend, up from 40, according to data from three major property agencies.</p><p>Louis Chan Wing-kit, vice-chairman for Asia-Pacific at Centaline, said buyers returned to the second-hand market as fewer new projects were launched in the first-hand market.</p><p>Nan Fung Group will put a 3,641-square-foot unit at 8 Deep Water Bay Drive out to tender on Thursday. A deposit of HK$8 million is required and the property management fee costs HK$40,020 or HK$11 per square foot.</p><p>Meanwhile, a two-bedroom flat at City One in Sha Tin, with an area of 284 sq ft traded for HK$5.9 million or HK$20,775 per sq ft, hitting a record high for the estate this year.</p><p>The vendor purchased the home for HK$3.63 million in 2014.</p><p>At Seaview Crescent in Tung Chung, a 516-sq-ft home sold for HK$7.55 million or HK$14,632 per sq ft, a record for the estate. The vendor acquired it for HK$2.15 million in 2005.</p><p>And at Gordon Terrace in Stanley, a 1,432-sq-ft home with a 1,000-sq-ft terrace sold for HK$55 million or HK$38,408 per sq ft after the vendor slashed the asking price by HK$2 million.</p>
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