Buyer Views Tseung Kwan O Flat During Typhoon, Buys Next Day for HK$32.4 Million

Amid improving market sentiment, some buyers are rushing to secure properties, even braving extreme weather conditions. Recently, a three-bedroom flat at Corinthia By The Sea in Tseung Kwan O, sold for HK$32.398 million, with a price per square foot of HK$24,619. The original owner, who purchased the property a decade ago, incurred a paper loss of HK$1.542 million, reflecting a 4.5% depreciation over the period.

According to Midland Realty, the unit in question is a high-floor special flat in Tower 3. It features a usable area of 1,316 square feet, including a separate platform and rooftop terrace. The unit has a south-facing orientation with a full sea view. Initially listed at HK$37 million, the property was on the market for approximately six months before drawing interest from a buyer in the neighbourhood.

The buyer reportedly favoured the flat for its spacious layout, platform, and rooftop terrace. Despite the adverse weather, the buyer arranged a viewing on the day of the typhoon. The very next day, they decided to purchase the unit. After negotiations, the flat was sold for HK$32.398 million, representing a HK$4.602 million reduction from the original asking price.

28hse - No.1 HK Property Portal Squarefoot - HK Premium Property Portal