Two-bed flat fetches $11m

Business | 16 Apr 2018

A two-bedroom apartment in Kowloon has sold for close to HK$11 million, having soared more than three times in value in less than two decades.

The 556-square-foot unit with commanding sea views at the fourth phase of Laguna Verde in Hung Hom sold for HK$10.8 million, or HK$19,424 per sq ft.

Ricacorp Properties said the previous owner had bought the apartment in 2000 for HK$3.30 million.

Nearby, a 323-sq-ft two-room unit at Whampoa Estate sold for HK$6.1 million.

It had been bought for HK$1.28 million in 1999, Centaline Property agency revealed.

At Tseung Kwan O, a two-bedroom flat with a saleable area of 354 sq ft at Well On Garden was sold for HK$5.98 million, or HK$16,893 per sq ft.

Midland Properties said the previous owner had bought the unit for HK$2.45 million.

In Hong Kong Island, a high-floor flat at Fortress Garden was sold for HK$13.28 million.

It had been bought in 2000 for HK$2.90 million, according to Century 21 Sunrise Property agency.

Meanwhile, Centaline Commercial disclosed that a store in Lan Kwai Fong is available for sale.

It is calling for bids which will close on May 9.

Located at D'Aguilar Street, the store is currently rented by a pub and has an area of 2,903 sq ft.

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