Tin Shui Wai home prices slip

Business | Kevin Xu 22 May 2019

Prices of three-bedroom homes in Tin Shui Wai have fallen below HK$6 million.

A three-bedroom flat at Kingswood Villas was sold for HK$5.74 million or HK$10,509 per sq ft, hitting one-month low among all three-room units.

The selling price was 6 percent lower than the market price but more than doubled the original purchasing price.

Another three-bedroom apartment at Kingswood Court in Kingswood Villas fetched HK$5.78 million or HK$10,566 per sq ft, 6.77 percent lower than the original asking price last month.

Centaline Property said only 20 transactions were recorded at Kingswood Villas this month as many secondhand house buyers turned to the primary market where a lot of cheap houses are available.

Meanwhile, Sino Land (0083) will launch the last 1,503-sq-ft flat at Coronation in Yau Ma Tei.

The latest sales brochure showed that the development had a total of 740 units, out of which 739 had been sold for a total of HK$10.2 billion.

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