Property price repeated to make new highest record which make part of the " hold up units in 1997" relieved and some even sold in profitable deals. Ricacorp's data showed, there are 191 profitable deals of " hold up units in 1997" in whole HK area recorded in season 3. Though the deal number reduce 9% compare to 209 deals in following season, the relevant amount of money is HKD1.263 billion which increase 21% by season and it shows " price up deals down" also happen during " hold up units in 1997" market. Tsz Oi Court in Temple Hill lately sold one unit at sq ft price of HKD4,289 (Green form price) and make the new highest sq ft price in green form market.
Base on quantity, profitable deals of " hold up units in 1997" major are cheap units for new owners between HKD 2 million to HKD 5 million and there are up to 114 deals in season 3 taking about 60% of similar cases in last season.
No. 27, Lugard Road earn HKD 150 million at the most
However, highest profit deals still located in luxury real estate area at profit range between 45.5% to 118.3%. The one in highest profit is case in No. 27, Lugard Road. The original owner earn book profit HKD 151 million from 1997 register and bought the unit at HKD 232.8 million until season 3 of this year with the profit range nearly 65%.
Ricacorp research department director Zhou Man-jie estimated, owners from 1997 have rising possibility to earn profit from property reselling after the second hand property price higher than peak price in 1997. Plus with QE3 increase the inflation, it is believed that deals number recorded will increase 30% to about 250 units for the " profitable deals of hold up units in 1997" in season 4.
Tsz Oi Court record one new highest sq ft price at HKD 4,289 which is green form price
In fact, buyers into the market and actively promote deals repeated at highest price record in each district house market. Fullmark Property Lin Bo-rong said, room 01, middle floor , building L (Aikang Pavilion) of Tsz Oi Court in Temple Hill with cover area of 851 sq ft resold at HKD3.65 million (Green form price) and the sq ft price is HKD4,289 which is about 5% higher than market price. And it also make new highest price record in green form market.
Room A, middle floor, building 3 of Yi Lok Garden in Tuen Mun with cover area of 440 sq ft was bought by investor at HKD2.065 million and rent for longterm investment, Many Wells Property Hu Zhi-wei said. The sq ft price of this unit is HKD4,693 and HKD 6,164 if calculated by usable area making historical new highest in similar house units. The original owner earn HKD 581,700 after pay HKD103,300 for 5% special stamp duty (SSD). As for room H, middle floor, building 3 of Meifoo-Manhattan Hill in cover area about 747 sq ft deal at HKD 8.068 million with sq ft price at HKD10,801 making the new highest sq ft price in similar units. Midland Realty Lin Hai-cheng said, original owner earn book profit about HKD 2,128,000 from this resale.
In addition, Century 21 Yan Zhi-yun said, top floor duplex unit in building 1 of Pacific Palisades in North Point with cover area of 2,028 sq ft and in 4 rooms layout deal at HKD36 million and the sq ft price is HKD17,751 breaking the record in 1997. The original owner earn book profit HKD24.2 million from the resale after 12 years and the property appreciate 2.05 times in the period.
