It is horrible to see that the huge amount of money of Yau Tong seaside luxury residence Xitai has evaporated in 3 years, and the drop is almost 50%!

While Hong Kong citizens are still cheering for the stock market rebound, a nuclear-level news from the secondary property market is rewriting the wealth map. A "floating-style" transaction was witnessed at the Yau Tong seafront luxury residence Xitai. The owner of a three-bedroom sea view unit sold out his position in tears for HK$8.57 million, a drop of nearly 50%! This is not just a simple case of cutting losses, but also reveals a storm of asset depreciation sweeping across Hong Kong - the wealth accumulated by countless middle-class people throughout their lives is evaporating at a rate of tens of thousands of yuan per minute in the concrete jungle.

"maya Xitai" consists of 2 high-rise residential buildings and a base shopping mall, providing a total of 326 residential units; the unit layouts are diversified, and the standard unit types mainly provide 2-bedroom and 3-bedroom units, as well as special units.

The cruel arithmetic behind the decline of 48%: a nerve knife that evaporates 163 yuan per minute

Opening the transaction file that shocked the whole city, the numbers are shocking: the 716-square-foot sea view unit fell from 17.87 million to 9.3 million, which is equivalent to a shrinkage of 7,800 yuan in assets every day, 325 yuan per hour, and 5.4 yuan per minute. If calculated based on Hong Kong’s average median wage of HK$18,700, the owner is working for nothing for 458 months! What’s even more ironic is that this transaction price, stained with blood, is surprisingly similar to the price of an old housing estate in the same district 20 years ago.

"The buyer is a local user, and he haggled over the price for three months before he dared to make the move. Now the bank's valuation system has failed, and homebuyers specifically target these types of 'blood crashes' for bargaining." According to frontline real estate agents, this unit is not an isolated case. The latest asking price for a mid-level unit in the same building has fallen below the psychological barrier of $9 million, and the owners' group is filled with grief.

Battle Royale in the City: Kowloon and New Territories fall, tens of millions of negative assets are exposed

• The transaction price of three-bedroom apartments in Tseung Kwan O Metro City fell below the 2016 level
• A depth bomb with a value of 3000000 was found in a two-bedroom apartment in City One, Shatin
• Tsuen Wan Riviera Gardens owner pays for renovations in exchange for selling property
  More than 12,000 residential units in Hong Kong have fallen below mortgage loan levels, and the tens of millions of "negative asset suicide squad" is expanding at a rate of 300% per month. What is even more frightening is that this storm is engulfing the elite class - financial talents in Central, IT upstarts in Science Park, chief physicians in private hospitals, and more and more white-collar workers' luxury homes have become "negative asset specimens." Policy nuclear explosion zone: dismantling the three fatal equations of the real estate market avalanche

1. Dollar butcher: The Fed violently raised interest rates by 21 basis points, and the interest rate gap between Hong Kong and the United States caused a capital flight. According to the HKMA data, Hong Kong's offshore RMB deposits have plummeted by 38% in the past 18 months
   
2. Immigrants’ supply cuts: Security Bureau figures reveal that Hong Kong’s net outflow of population has exceeded 240,000 in the past three years. Rumor has it that the proportion of “immigrant properties” has soared to 40%, and a new property in Yuen Long has even seen an entire floor of a “ghost town”
   
3. The Curse of Nano Buildings: The Rating and Valuation Department reveals that the price index of units with a usable area of less than 431 square feet has evaporated by 45% from the peak period, and a large number of investors are trapped in "cement coffins" The Great Turning Point of the Century: Wealth Reset in the Twilight of Real Estate Hegemony
   DTZ's latest research report makes a shocking prediction: Hong Kong's residential market is experiencing the pain of "de-financialization" and 30% real estate agencies will disappear in the next five years. When we visited the real estate street in Causeway Bay, the shops that were once crowded with people have been replaced with "Immigration Consultants" signs. Senior agent Ah Jie smiled bitterly: "Now I have to provide psychological counseling while showing customers properties. Some owners have had emotional breakdowns on the spot." In this war for wealth without gunpowder, every Hong Konger is forced to join the battle. From tea restaurant owners to investment bank MDs, from subdivided flat residents to Peak tycoons, no one can really stay out of it. When faith in the property market collapses, we may be witnessing the end of an era - the Hong Kong legend that could turn stone into gold with just a cement box was ultimately no match for the iron-fisted judgment of economic laws.

Xi Terrace｜Yau Tong Mid-Levels Luxury Residence

[Prestigious Location] Located above the Yau Tong MTR Station, 8 Sung Shan Street is located in the Mid-Levels of Kowloon East, with a view of the Victoria Harbour and the city. It is jointly developed by Wang On Properties (1243) and Xuhui Group.

【Project Overview】
? Completion time｜October 2020 (sale of existing buildings)
? Building scale | Twin tower luxury residential design
? Unit supply｜A total of 326 boutique residences
? Unit size range｜Saleable area 456 to 1,838 square feet
(From boutique two-bedroom to sky-high luxury duplex units)

【Educational Advantages】
? Primary 1 School Network｜48 school networks cover many high-quality primary schools:

• St. Anthony's Primary School
• Yaw Tee Kei Hin Primary School
• Assembly of God Leung Sing Tak Primary School

? Secondary school district｜Key schools in Kwun Tong District:

• Sing Yin Secondary School (Band 1 English-Chinese)
• Maryknoll College, Kwun Tong
• Shun Lee Catholic Secondary School

【Highlights】
✓ 5 minutes to connect to the MTR Kwun Tong Line/Tseung Kwan O Line double track hub
✓ 10 minutes to reach the core development area of East Kowloon CBD2
✓ The base is equipped with a 30,000 square foot fashion commercial complex