Flat prices have slipped by up to double digits as owners try to offload units amid a quiet property market.
A 580-square-foot flat at Ming Kung Mansion in Tai Koo Shing changed hands for HK$7.95 million - 5 percent lower than market prices. The two-bedroom flat was priced at HK$8.5 million on Wednesday.
"Around three to four similar units were sold at HK$8.5 million-HK$8.6 million before the latest government curbs," said Alan Cheung Kwong-yiu of Centaline Property Agency.
Also, an owner finally sold his 509-sq-ft flat in Tai Koo Shing for HK$11,297 per sellable sq ft, or HK$5.75 million, after cutting prices twice. The current market price is about HK$12,800 per sellable sq ft.
The two-bedroom flat was put on the market before February 22 - when the latest property curbs took effect - at HK$6.5 million. It was first reduced to HK$6 million.
A 2,006-sq-ft home at Winfield in Happy Valley was sold for HK$47.48 million after the price was slashed from HK$54.57 million.
Hong Kong Property expects overall flat prices to drop by 10 percent amid the "price-cutting" trend.
Meanwhile, a 908-sq-ft unit at The Palazzo in Fo Tan was rented out for HK$29,000 a month, with the rate trimmed by HK$1,000 from its previous contract.
The primary market, meanwhile, saw just four flats being sold yesterday - two at Green Code in Fan Ling, one at Residence 88 in Yuen Long and an apartment in Parkes Residence at Austin MTR Station.