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Hong Kong Property Market - Yr.2020 Sep: Average price per sq feet $11534 1.17%   (last month:$11671)
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The Most Expensive One-Bedroom Flat in Kowloon Is from The Hermitage with Price at HKD30.3 million.

Image Caption
Hong Kong Wen Wei Po (by Lai ChiTin)

Recently, the social atmosphere has not prevented the public from buying high-priced properties, and the property market still recorded new transactions at high price. Market source points out that, The Hermitage in Olympic station recorded the latest transaction of one-bedroom flat at HKD30.3 million, the highest for one-bedroom flat in Kowloon; Ocean Wings in Tsueng Kwan also recorded transaction of high floor one-bedroom flat at HKD7.3 million, with the sq ft price at HKD19,519, and both sale price and sq ft price are the highest among same style flats of the same project.

According to market source, The Hermitage in Olympic station recorded the transaction of room A on high floor of block 6, which is one-bedroom in usable area of 807 sq ft joining with platform of 547 sq ft, and it was sold at HKD30.3 million, being the most expensive one-bedroom flat in Kowloon by estimation, with the sq ft price at HKD37,546. According to the data, the original owner of the above-mentioned flat purchased it in 2011 for HKD25.02 million, and earned a book profit of HKD5.28 million or 21% after resale.

One-bedroom flat in Ocean Wings was sold at HKD7.3 million.

Ng KamKei from Centaline Property expresses, Ocean Wings latest recorded a transaction of high floor room C in block 7A, which is one-bedroom in usable area of 374 sq ft facing southeast and viewing seascape, and it was asked for HKD7.8 million while cut to HKD7.3 million and sold, with the usable area sq ft price at HKD19,519, furthermore, both sale price and sq ft price are the latest peak among same style flats. The original owner bought it at HKD5.358 million in May 2016, earning book profit of HKD1.942 million after resale, and the flat had appreciated 36.2% in three years. The previous transaction of the same style unit in the project was recorded at the beginning of this month. It is low floor room D in block 6A with usable area of 368 sq ft, and it was sold at HKD7.12 million, leading the sq ft price to HKD19,348.

In addition, the market also recorded luxury property transactions. Liao ChunHung from Century21 Goodwin expresses, the transaction of single number house in Marina Cove phase I in Sai Kung was latest recorded, and it is in usable area of 1,048 sq ft joining with a private ship position of about 17 sq ft and garden of about 1,127 sq ft, besides it was successfully sold for HKD30.78 million with the usable area sq ft price at HKD29,370, the latest peak in the market. It is known, the original owner purchased the above house in June 2009 for HKD14.3 million, earning the book profit of HKD16.48 million after holding it for 10 years, and the house had appreciated about 1 time in the period.

The sq ft price of flat in Marina Cove has reached a new high in the market.

Lau YukLun from Ricacorp Properties expresses, the market recently recorded a case of a low-rise room B in block 1 of the Leighton Hill, Happy Valley, and this flat is two-bedroom one suite with worker suite in usable area of about 924 sq ft, viewing the horse racecourse. The original owner had asked for HKD41 million, while reduced by HKD3.6 million or about 9%. The house was sold at HKD37.4 million, with the usable area sq ft price at about HKD40,476.

It is reported that the original owner purchased the above unit for about HKD13.1 million as early as March 2006. The book profit is about HKD24.3 million or over 1.8 times after 13 years. Lau YukLun adds, the above case is the first second-hand property transaction of The Leighton Hill this month, and there are about 20 flats on sale currently, with the cheapest price at HKD41 million.
Translated by 28Hse.com . All right reserved.