Secondary home sales pick up

Business | Jeannie Tang 15 Apr 2019

Hong Kong's 10 major housing estates recorded 47 transactions over the weekend, up from 40, according to data from three major property agencies.

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.

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.

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.

The vendor purchased the home for HK$3.63 million in 2014.

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.

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.

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