2025-05-02 Squarefoot Editor
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- Mainland Chinese Buyer Secures Deal: $60 Million Purchase At Mayfair By The Sea Shows 20% Drop In Value Over 6 Years
The secondary market shows signs of weakness, with transactions continuing to be dominated by sales at a loss. Among them, a special unit with a terrace at Mayfair By The Sea Phase 1 in Tai Po, Pak Shek Kok was sold for HK$60 million. The original owner, who held the property for six years, sold it at a 20% loss.
According to transaction records, the transaction involved the top-floor unit A in Block Two. The unit has a saleable area of 2,503 square feet, includes four bedrooms, and comes with a 2,280-square-foot terrace accessible via an internal staircase. The unit was sold for HK$60 million, with a price per square foot of HK$23,971.
The original owner purchased the unit in November 2018 for HK$75 million and held it for six years. This resale resulted in a book loss of about HK$15 million, with the unit depreciating approximately 20% during this period.
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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 |