Two Mei Foo units sold at HKD $4.15 Million
Residential market trend becomes clear after administration report is issued. The previous hesitant mood in the market is cleared and many buyers entered into market. Mei Foo Sun Cheun saw a buyer that very night, and an mainland investor plunged into market immediately after the report is released and bought a unit of 1,050 square feet in Fairview Park , Yuen Long District at a price 3% higher than market price. Transaction volume has increased and experts predict a resurge in building checking.
Mainland investors swarmed into market as soon as the report is published. Liu Yinghua, manager of Century 21 Culture Center Property Limited Grand Waterfront brand says that a Room B in the 3rd building of The Victoria Towers which covers 1,081 square feet and has a sea scenery of Lei Yue Mun is transacted with HKD $14,35 million, equivalent to price per square foot of HKD $13,274. The original owner bought the property with HKD $5.48 in 2001 and gained HKD $8.87, 1.62 times more than that of 9 years earlier. Current monthly rent for similar apartments is HKD $35,000, with a return rate of 3%.
Metro Harbour View transacted with HKD $4.3 million
Lin Zhensheng, senior sales manager of Residence Oasis branch, Tseung Kwan O of Midland Realty says that a Room A in building 8 of Metro City II in Tseung Kwan O which has double rooms of 617 square feet with a hillside scenery is transacted at a reasonable market price of HKD $3,26 million, or a price per square foot of HKD $5,284. The original owner bought the property with HKD $2.12 in October, 2000 and gained HKD $1.14 million, or a 54% appreciation.
The Parcville sold with 200,000 fall in price
Liang Langqi, senior manager of Centaline Property Agency Limited Yuen long education road branch says Room D of the 10th building of The Parcville has 606 square feet and 2 separate rooms with a view of a ball park. The owner originally bid HKD$ 2.75 million and cut it by HKD$ 10 to attract buyers. It was transacted at HKD$ 2.55 finally with an accumulative decrease rate of 7.3%, or HKD$ 200,000, which is 3% lower than market price. The previous owner bought the property at HKD $1.53 in November, 2007 and gained HKD $1.02, or a unit apperception of 66.7% after holding it for nearly 4 years.
Fairview Park transacted 3% higher than market price
Wu Mingluo, operation manager of Midland Realty Yuen long branch says Fairview Park is located in 11 Road 3 in section I with 1,050 square feet and a view of a garden. It was transacted at HKD $7.58, or 7,219 per square foot, 3% higher than market price. The buyer is from mainland and bought for self-use. It is known the original owner bought the property at HKD $3.63 in August, 1996 and gained about HKD $3.95, or 1.1 times appreciation.
