Eager to purchase a new property, one owner of a semi-new flat in Yuen Long sold their 238-square-foot open-plan unit at a loss. The new buyer purchased the unit for HK$3.75 million at HK$15,748 per square foot.
The original owner bought the flat in 2019 for HK$3.97 million and held it for four years, ultimately losing HK$220,000 (US$28,0000) in profits.
This week, the US Federal Reserve raised interest rates by 0.25% last week. Hong Kong banks followed suit, raising prime rates by 0.125%. Because of the rate hike and rainstorm warning signals, the past weekend saw a sharp drop in flat viewings. It was in fact the quietest weekend of the year.
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| Property Type | Price | Ads Period |
|---|---|---|
| For Sale Property | ||
Normal Listing Typical One | HKD:1000 (or Hsemoney:1000) | Valid:90 Days |
Golden Top Listing Higher position than Normal listing 2-3times better performance | HKD: 3000 (or Hsemoney:3000) | Valid: 60 Days |
| Rental Property | ||
Normal Listing Typical One | HKD:1000 (or Hsemoney:1000) | Valid:80 Days |
Golden Top Listing Higher position than Normal listing 2-3times better performance | HKD: 3000 (or Hsemoney:3000) | Valid: 60 Days |
