Second hand property in Hong Kong Island which always stood strong on price needs to back to rationality under interest rising source and new projects' crazy privileges, and transactions of luxury house and even common unit in price cut up to HKD 1 million appeared in succession. At the same time, some mainland customer took the price cut advantage to buy two rooms unit of The Wings in Tsueng Kwan after paying tax duty of HKD 1.365 million.
Mainland buyer paid HKD 1.36 million of tax duty for unit in The Wings.
They just helped one mainland customer to buy a two rooms unit of The Wings in Tsueng Kwan for self occupation at price of HKD 6.3 million, and the buyer needed to pay tax duty at about HKD 1.365 million, expressed by Ma Licheng from Midland. It was high floor room E in building 3, of which the usable area is 538 sq ft, and the seller asked for HKD 6.6 million at first, but the price was cut to about HKD 6.3 million at last, with usable area sq ft price at HKD 11,710.
As for large price cut transactions in Hong Kong Island, the company just registered one case of low floor unit with platform in Hong Kong Garden of Seymour Road in Midlevels West, of which the usable area is 1,991 sq ft, and the seller asked for HKD 45 million in February, but finally cut to HKD 38.3 million and sold, with price cut range up to 14.9% and the sq ft price in HKD 19,237, pointed by Zhang Jiarong from Ricacorp Properties. Another side, STATELYHOME just promoted one case in low floor room C of Flourish Court in Conduit Road Midlevels West, of which the usable area is 960 sq ft, and the original owner asked for HKD 17.3 million in the beginning of this year, but agreed to sell at HKD 16.3 million with parking place after negotiations, with price cut in 5.8% and the usable area sq ft price at HKD 16,979, expressed by Chen Chuyin from STATELYHOME.
In other places, The Leighton Hill in Happy Valley registered its first transaction in this month, which was in extremely high floor room B of building 9 in usable area of 923 sq ft, and the original owner asked for HKD 27.8 million at first but sold at HKD 26.8 million after negotiation, with sq ft price at HKD 29,036, pointed by Feng Dianfeng from Ricacorp Properties. The latest transaction was in high floor room B of King Yu Court in North Point, of which the usable area is 1,164 sq ft and the layout is three rooms two suites, while the seller asked for HKD 18.3 million but finally cut to HKD 17.3 million, with usable area sq ft price at HKD 14,863, lower 6% than market level, expressed by Huang Wenlong, the Executive Director of Century 21 Sunrise Property.
Unit of Fook Gay Mansion in Wan Chai was cut by 24%.
Common project also has transaction in price cut up to HKD 1 million, like low floor room C of Fook Gay Mansion in Wan Chai sold in non occupation, of which the usable area is 378 sq ft and layout is two rooms, expressed by Zhang Yongquan from Centaline Property. The original owner put on sale this unit in middle of last year and asked for HKD 4.63 million, while the price finally went to HKD 3.54 million after accumulatively cut of HKD 1.09 million following to market trend, with price cut range up to 24% and sq ft price at HKD 9,365.
