HK Top 10 Blue-Chip Housing Estates See 6 Weekend Deals Amid Tariff War

Hong Kong’s top 10 blue-chip housing estates recorded 6 transactions this weekend, maintaining the same 10-week low as last week. The number of estates with no transactions slightly narrowed to 5.

According to Centaline Property Agency, the ongoing tariff war has created uncertainty among buyers, leading many to adopt a wait-and-see attitude. Even after viewing properties, buyers remain cautious about making offers, often expecting sellers to further reduce prices by 3 to 5%. This cautious approach has widened the price gap between buyers and sellers, slowing down transaction activity in the secondary market.

On Hong Kong Island, Taikoo Shing performed relatively well over the weekend, recording two transactions. The average price per usable square foot was HK$14,007. One notable deal involved a high-floor unit in Ko On Mansion’s Block C, with a usable area of 701 square feet and a south-facing inner garden view. Initially listed at HK$11 million, the unit was sold for HK$9.8 million after negotiations, translating to HK$13,980 per square foot. The original owner purchased the property in April 2013 for HK$9.1 million, achieving a profit of HK$700,000.

At South Horizons, one transaction was recorded this weekend. A high-floor unit in Block 15, with a usable area of 625 square feet featuring three bedrooms and a northeast-facing view of the plaza, sold for HK$7.9 million. This translates to HK$12,640 per square foot. The original owner purchased the unit in September 2001 for HK$2.75 million and, after nearly 24 years, earned a profit of HK$5.15 million, with the property appreciating by over 180%.

In Kowloon, Laguna City recorded one transaction this weekend. A mid-floor unit in Block 23, with a usable area of 522 square feet and a two-bedroom, one-bathroom layout offering a west-facing sea view, sold for HK$6.22 million after a price reduction from HK$6.8 million. This translates to HK$11,916 per square foot. The original owner purchased the unit in December 2010 for HK$4.42 million, earning a profit of HK$1.8 million after 15 years, with the property appreciating by 41%. So far this month, Laguna City has recorded 8 transactions, with an average usable price per square foot of HK$10,688.

In the New Territories, Centaline Property in Tin Shui Wai noted that the ongoing US-China tariff war has caused significant stock market volatility, shaking the confidence of buyers and investors. This has led to a stronger wait-and-see sentiment, which has slowed the pace of transactions.

As a result, Kingswood Villas did not record any transactions over the weekend. For the month, the total number of transactions remains at 10, with the average usable price per square foot at HK$8,449.

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