( By Yan Lunle)
Market focus to first hand property, and second hand property market continues trending to polarization, so one side has transaction at highest sq ft price while another side's transactions decrease. (See another article) On the past weekend, two blue-chip projects in Hong Kong registered transactions at peak price the same time, Metro City in Tsueng Kwan among even gained two transactions at highest sq ft price, with two units of it sold at historical peak price among each similar styles. At the same time, one unit of Taikoo Shing in 489 sq ft also sold at peak sq ft price among same style units, and its price was HKD 6.66 million, with usable area sq ft price at HKD 13,620.
Middle floor room H of block 11 from Metro City 2 in usable area of about 441 sq ft and layout of two rooms, just sold at about HKD 4.9 million, with discounted usable area sq ft price at about HKD 11,111, which is the historical peak price among same style units, Xu Haohui from Midland expressed. The original owner bought this house at HKD 2.54 million in June 08 and the property appreciated about 100%.
Another transaction in Metro City was from middle floor room E of block 2 in phase 1 which is in usable area of about 526 sq ft and in layout of three rooms suite unit, and it sold at about HKD 5.78 million, with discounted cover area sq ft price at HKD 7,896 and usable area sq ft price at about HKD 10,989, being the historical peak among same style units of the project. The original owner purchased this flat at about HKD 3.134 million in July 1996, earning book profit of about HKD 2.646 million, and the property appreciation was about 84%.
Unit of Taikoo Shing POYANG MANSION bought in 1997 was sold at peak price.
Hong Kong Island blue-chip project Taikoo Shing also appeared transaction at latest highest price. Agent expressed, although Taikoo Shing POYANG MANSION is first phase of the project and finished in 1978, but it sold one high floor room B in usable area of 489 sq ft soon after being put on sale days before, owner of which asked for HKD 6.7 million with bottom price at HKD 6.5 million before, and this house finally sold at HKD 6.66 million, with usable area sq ft price at HKD 13,620, being the latest peak among similar style units. The original owner bought this unit at HKD 3.12 million in January 1997, earning book profit of about HKD 3.54 million after holding it for nearly 17 years, with profit rate in more than 100%.
Unit of Garden Rivera in 269 sq ft sold at HKD 3.36 million, being the latest peak among same style units.
Other projects also registered transactions at latest peak price frequently, especially among small units. Garden Rivera in Sha Tin sold one high floor room 01 in block A at high price recently, which is open style unit in usable area of 269 sq ft, and it sold at HKD 3.36 million, with usable area sq ft price at HKD 12,491, up to the latest peak of same style units, Zhao Jinchang from Centaline expressed. The original owner bought this house by HKD 1.3 million in October 2008, earning book profit about HKD 2.06 million after holding it for about six years, and the property appreciated in nearly 158%.
