squarefoot 5平方 Logo

Market Focus: Famous People's High Cost Houses; Unit Price Is Up To Hundreds Of Million Of HK Dollars.

Squarefoot Editor  2014-05-18  #Property Hit News
( By Su Hongqiang) Recently, many foreclosed houses are focused by market, which mostly are at more than one hundred million HK dollars. Many of the original owners of these houses are famous people or well-known investors in the city, some among had made submortgage many times but failed to afford them finally. Although there is statement that foreclosed houses mostly owned by mainland rich people, and they are not residences of middle class or common people, but it is enough to cause attention on if this is one of the sign that economic turns bad. Shi Jialong's Duplex in Residence Bel-Air became foreclosed house. High cost duplex of Residence Bel-Air was put on sale as foreclosed house in earlier, shocking the market. Last month, property investor Shi Jialong's two villas became foreclosed houses and were put on sale each at HKD 180 million, a rare high price for foreclosed house in Southern District of recent years. Shi spent nearly HKD 280 million to buy these two front single number villas of Residence Bel-Air phase 5 from Pacific Century Premium Developments (PCPD) in July 2012, the usable area of which are both more than 3,000 sq ft, but they became foreclosed houses after three times of mortgages. As for high floor room S in No.1 Robinson Road, it was launched at HKD 98 million in the beginning of this month, but withdrew because there was no buyer, and the latest price is HKD 95 million. The usable area of this unit is 3,003 sq ft, and it has a platform in 498 sq ft. According to the market data, this property was owned by a famous family member with last name of Zhou, and the original owner had undertook mortgage from ten financial companies for 12 times between 2012 and 2013. Yeung Ka-Shing's property in No.31 Barker Road became foreclosed house and is put on sale at HKD 300 million. In addition, villa in No.31 Barker Road in Peak owned by Yeung Ka-Shing who was judged crime of money laundering in earlier, usable area of which is more than 3,000 sq ft, became foreclosed house last month, and its price is unknown. However market source pointed it is about HKD 300 million, with sq ft price up to more than HKD 90,000. Besides, even numbers foreclosed house of Square Foot in Sliver Stream Path Silver Strand of Sai Kung, which is in usable area of 2,668 sq ft and has independent big garden of more than 1,500 sq ft, was sold at HKD 43.5 million, with sq ft price at HKD 16,304. Market data showed, it was put on sale three months ago at price of HKD 47 million, in price cut up to 7%. The original owner bought this unit at HKD 19.8 million in 2005, who had only undertook mortgage from Bank of China once. Even numbers foreclosed house in 10th street of Hong Lok Yue in Tai Po was sold at HKD 28.6 million in the beginning of this month, which is in usable area of 2,520 sq ft and has one garden in 2,662 sq ft, with sq ft price at up to HKD 11,349. According to market data, this house had been launched for many times but failed.
Disclaimer: All wordings and pictures which indicated Squarefoot editor are the copyright of 7 Advertising LIMITED. Acknowledgement is required if other parts of this publication are used. The content is for reference only, does not constitute investment advice and it does not mean that Squarefoot agreed the points. The area which show in the article is salable area if there is no special circumstances. The pictures is for reference also.

Share by Facebook

Share by Whatsapp

Share by email