2025-05-02 Squarefoot Editor
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- One-bedroom Unit At Upper East Sold For Hk$5.45 Million, Losing Over Hk$2.5 Million In Value
The market continues to see properties sold at a loss, especially in newer developments. Upper East in To Kwa Wan, known for its subdivided flats, recently saw a one-bedroom unit sold for HK$5.45 million. This amounts to about HK$16,925 per square foot. The original owner bought the unit five years ago and has now sold it at a loss of nearly HK$2.5 million, a 31% decrease in value.
Dennis Yip of Centaline Property shared details about the unit. It is located in Block 1A, on a high floor, Unit H. The unit has a saleable area of 322 square feet and faces east-southeast, offering clear sea views. Initially listed at HK$5.8 million, the new buyer was attracted to its height and open view compared to neighbouring buildings. After the first viewing, they negotiated the price down to HK$5.45 million, making the per square foot price approximately HK$16,925.
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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 |