Secondary deals pick up across blue-chip estates

Business | Staff reporter 17 May 2021

Centaline Property Agency reported 28 secondary deals at 10 blue-chip housing estates over the past weekend, up by 65 percent from a week before.

Only Laguna City in Kwun Tong saw no transactions, according to Centaline.

A 652-sq-ft flat at Mei Foo Sun Chuen in Lai Chi Kok changed hands for HK$8.58 million, or HK$13,160 per sq ft. The seller, who bought the unit for HK$2.6 million in 2006, will gain HK$5.98 million.

In Quarry Bay, a 580-sq-ft flat at Tai Koo Shing fetched HK$12.68 million, or HK$21,862 per sq ft. The seller will gain HK$10.2 million after holding the property for 20 years.

In Sha Tin, a 504-sq-ft flat at City One Shatin was sold for HK$8.31 million, or HK$16,498 per sq ft. The seller will earn a capital gain of HK$5.59 million after holding the flat for 12 years.

Louis Chan Wing-kit, vice-chairman and chief executive of residential for Asia-Pacific at Centaline Property Agency, expects the primary market to record 2,500 deals this month.

In the primary market, Yau Lee (0406) has raked in about HK$700 million after selling 108 out of 117 flats on offer at L. Living 23 in Tai Kok Tsui. The developer previously released 37 flats in the third price list of the project at an average price of HK$22,431 per sq ft after discounts, 18.9 percent higher than the first price list.

The 37 flats are offered at HK$5.93 million to HK$12.62 million, or HK$20,139 per sq ft to HK$27,426 per sq ft after discounts.

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