2025-08-11 Squarefoot Editor
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- Ma On Shan Flat Sold For Hk$11.6m After 7 Years: Shocking 46% Price Drop
The Hong Kong property market has continued to adjust downward in recent years, forcing many homeowners who bought at peak prices to sell at a loss. A four-bedroom platform unit at Seanorama in Ma On Shan, was recently sold for HK$11.6 million, after sitting on the market for six months with an initial asking price of HK$13.5 million. The owner eventually reduced the price by HK$1.9 million, or 14.1%, to close the deal. The final price per square foot was HK$10,441.
The seller had owned the unit for seven years, purchasing it in 2018 for HK$21.32 million. This means the property has depreciated by 46%, resulting in a HK$9.72 million loss—the steepest loss recorded in the estate this year.
According to Century 21, the transaction involved a low-floor unit in Block 2A of Seanorama, with a saleable area of 1,111 square feet, featuring four bedrooms, two living rooms, and a 152-square-foot platform. The unit faces northeast with a garden view.
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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 Top 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 Top listing 2-3times better performance | HKD:3000 (or Hsemoney:3000) | Valid:60 days |