Hurry To Take Cash In: Bad Second Hand Property Market Force Owner in The Palazzo Cut HKD 2 Million to Sell House.

（By Liang Yueqin） Second hand property market still dull being affected by strict measures and new projects' launching with price cut. Some second hand property owners also want to sell with price cut to take cash in. One owner in The Palazzo cut HKD 2 million in down range of 14.3%. Lin Jiayang from Ricacorp Properties expressed, room B in high floor of building two of The Palazzo in usable area of 995 sq ft and layout of four suites with worker's room sold including lease, and the original owner asked for HKD 14 million in earlier. The owner finally cut about 14.3% which is HKD 2 million to HKD 12 million with usable area sq ft price at about HKD 12,060, seeing the market in down trend. Seller bought this unit at HKD 11.968 million in March 2010, losing about HKD 0.37 million after stamp duty and other fees. Low floor room D in building two of The Palazzo in usable area of 555 sq ft was cut nearly 1.7% (about HKD 0.1 million) to HKD 5.8 million from original price of HKD 5.9 million, with usable area sq ft price at about 10,450. The seller bought the above house at HKD 4.68 million in March 2010 and earned book profit of HKD 1.12 million in appreciation of about 24%. Unit in Claymore Lodge finally sold after price cut in 14%. Claymore Lodge in Happy Valley also has transaction in price cut of 14%. Feng Dianfeng from Ricacorp Properties expressed, room A in middle floor of Claymore Lodge in usable area of 284 sq ft was cut HKD 0.7 million (in range of 14%) from HKD 5 million to HKD 4.3 million, with usable area sq ft price at about HKD 15,141. The original owner bought the above unit at HKD 3.68 million in February 2011 and earned book profit of HKD 0.62 million in appreciation of about 17%. Unit in Banyan Garden sold with price cut of HKD 0.38 million in down range of 4.5%. Wu Zihao from Ricacorp Properties pointed, middle floor room G in building third of Banyan Garden in Lai Chi Kok is in usable area of 660 sq ft. The original owner asked for HKD 8.38 million at first, but finally cut about 4.5% to HKD 8 million, with usable area sq ft price at about HKD 12,121. Seller bought this unit at HKD 6 million in August 2010 and earned book profit of HKD 2 million from this reselling, in appreciation of 33%. High floor room H in building first of Banyan Garden in usable area of 506 sq ft was finally cut HKD 0.07 million (in range of 1.2%) to HKD 5.83 million and sold, with usable area sq ft price at HKD 11,522. The seller bought the above unit at HKD 2.709 million in July 2007, and gained book profit of HKD 3.121 million in about 1.15 times from the reselling. Liu Fali from Centaline Property expressed, middle floor room 01 in building L of Sunshine City in Ma On Shan is in usable area of 618 sq ft and layout of three rooms with suite. The owner asked for HKD 6.38 million but sold at HKD 6.18 million with price cut of HKD 0.2 million in range of 3.1% after negotiation, with usable area average sq ft price at HKD 10,000. The buyer is house changing customer from the same district. Original owner bought this unit at HKD 5.45 million in September 2012 and gained book profit of HKD 0.421 million after SSD in 5% of the property price which was HKD 0.309 million because holding the house less than two years.