Real Estate News
After three years of dormancy in the Mid-Levels Central luxury residential market, a landmark transaction that shook the real estate industry finally surfaced. The family of famous tenor Warren Mok recently sold a top unit in Bowen Hills at a "discounted price" of HK$47.02 million, which was halved from the transaction price of the same unit three years ago. This dramatic transaction revealed the real estate secrets of the century-old medical family that had been hidden for 27 years. The century-long discount shocked the luxury housing circle...
International superstar Andy Lau (Andy...
As the Hong Kong property market continues to adjust, Annie Liu, the artist who became famous for "Scarlet Heart", did the opposite and spent HK$22.5 million as a first-time home buyer to purchase a high-quality village house in O Pui Village, Sai Kung. The transaction price was about HK$5% lower than the valuation, showing a new trend in celebrity asset allocation. ■Double verification of celebrity identity■ Negotiable space shows weak market■ Tax leverage saves more than one million■...
Core transaction data: Market analysis: Driving factors of the price plunge: In January 2024, a home ownership flat in Hoi Lok Court, Cheung Sha Wan was sold for HK$2.75 million without paying the land premium, setting a new low in the history of the second-hand market in the court. The 390 sq ft unit was sold for an astonishing HK$7,051 per sq ft, a drop of HK$28.61 per sq ft (1.1 million) from the HK$3.85 million paid for a similar low-floor unit earlier in the same month.
The main small and medium-sized units are discounted at 3% to attract customers. The actual price per square foot is as low as 15,591 yuan. The entry threshold is only 4.09 million yuan. The show unit is open from now on...
