Hong Kong’s housing market has been in a years-long downward trend, but a group of four real estate agents have shown that fast money is still possible. Their six-month flip of a Ma On Shan two-bedroom flat yielded a paper gain of over HK$1 million — a striking outlier at a time when most sellers are still cutting prices.
The unit at Double Cove Starview, bought for HK$5 million in January and resold in July for HK$6.08 million, translated into a 21.6 percent, or HK$1.08 million jump in value. After factoring in transaction costs, each agent walked away with about HK$214,000 — far from life-changing, but notable given the broader downturn.
Property watchers say such quick flips could signal that bargain hunters and small investors are beginning to dip their toes back into the market, hoping to catch a rebound before it gains momentum.
The case also highlights both the opportunities and pitfalls of “co-buying” property in Hong Kong. Joint ownership is usually structured either as joint tenancy — where people own an undivided interest in the property — or tenancy in common, where each party holds an agreed percentage stake.
Experts caution that co-investors should sign clear agreements covering contributions, mortgage responsibilities, rental income, exit mechanisms, and profit-sharing on sale. They must also understand banks’ mortgage rules, tax obligations, and the risks of property downturns.
While co-buying can magnify gains in a rising market, losses are also shared proportionately if prices fall — meaning the arrangement is not always as attractive as it seems on the surface.
