[Real estate market loss] Cash-out for a new one, Victoria Harbour · Xing'an owner has lost 5.4 million

28Hse Editor  2022-01-25  #Transaction

The outbreak of the Omicron variant virus in the community hit the market sentiment, and the second-hand property prices also fell further, causing an increase in cases. An agent revealed that a 3-bedroom house with a sea view in Victoria Harbour and Singan in Hung Hom was recently sold at a loss of 18.5 million yuan. If the miscellaneous expenses were included, the original owner actually lost more than "five goals" and left.

Zhou Delong of Centaline Real Estate said that the five high-rise C rooms in Victoria Harbour Xingan changed hands at a loss of price, with a usable area of 732 square feet, with 3-room partitions and a view of the Victoria Harbour sea view. The unit was launched in March last year, and the asking price was 22.3 million yuan , after a cumulative reduction of about 3.8 million yuan, the newly acquired property was purchased by a new buyer for about 18.5 million yuan, and the transaction price was 25,273 yuan per square foot.

It is reported that the original owner purchased the above-mentioned unit for 21.88 million yuan in October 2016. After holding the goods for more than five years, the current book value has depreciated by 3.38 million yuan or about 15%. Since the original owner paid as much as 1.86 million yuan in taxes when buying the unit, if the agency commission of 185,000 yuan at the time of sale is taken into account, the actual loss is expected to exceed 5.4 million yuan.

The original owners have been living in the above-mentioned units, but it has been seen that the price per square foot has dropped to about 25,000 yuan or below in the Kai Tak New Development Area in recent months. Therefore, I do not mind selling the above-mentioned units at a loss for cash. Victoria Harbour·Singan recorded 2 transactions this month, with an average price per square foot of 25,584 yuan.

Tianzhuan's 3-room real loss exceeds 500,000

In addition, there were other semi-new housing estates that recorded a loss-making transaction, and a new real-loss transaction was recorded in Tianzhuan, a new housing estate in Tai Po. Yang Haoran of Midland Realty said that Room A on the middle floor of Block 7 Tianzhuan, with a usable area of 617 square feet and a 3-room partition, was recently sold for 9.56 million yuan, with a usable square foot price of 15,494 yuan; the original owner sold it for 9.06 million yuan in April 2020. Buying the unit first hand, earning 500,000 yuan on paper, but after deducting additional stamp duty SSD and other expenses, it is expected to lose more than 500,000 yuan or about 5.5% and leave the market.

12% loss of open accounts and exits

According to market sources, the flat E in Sai Ying Pan has also recorded a loss-making transaction on the lower floor. It has a usable area of 221 square feet and is an open-plan unit. The original owner bought the unit first-hand for 6.112 million yuan in January 2018, and the unit recently changed hands for 5.4 million yuan. , the usable square foot price is 24,434 yuan, and the book loss is about 712,000 yuan or about 12% after holding the goods for 4 years.

Disclaimer: All wordings and pictures which indicated 28HSE editor are the copyright of 28HSE LIMITED. Acknowledgement is required if other parts of this publication are used. The content is for reference only, does not constitute investment advice and it does not mean that 28HSE agreed the points. The area which show in the article is salable area if there is no special circumstances. The pictures is for reference also.

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