Taikoo Shing Two-Bed Flat Sold at HK$7.98M Loss After Six-Year Hold
SingTao · 2 SOURCESabout 4 hours ago4 MIN
Summary
A mid-floor two-bedroom flat in Taikoo Shing, Quarry Bay, was sold for HK$7.98 million, with the former owner absorbing a paper loss exceeding HK$1 million after six years of ownership. The 545-square-foot unit in Tai Wu Court (太湖閣) features mountain views and attracted a home-buyer seeking accommodation. Separately, a transaction in Shatin City One concluded with a long-term seller netting a gain of approximately HK$2 million after nearly three decades.
Key Points
- Tai Wu Court mid-floor Flat F in Taikoo Shing sold for HK$7.98 million, equating to HK$14,642 per square foot of usable area
- The original owner purchased the 545-sq-ft two-bedroom unit in January 2020 for HK$9.02 million, incurring a loss of HK$1.04 million or 11.5%
- Wang Xiu-fen (王秀芬), Regional Sales Director at Centaline Property's Taikoo Shing branch, handled the Tai Wu Court transaction
- Shatin City One Tower 45 lower-floor Flat E (284 sq ft, two bedrooms) changed hands for HK$4.3 million after a HK$250,000 price reduction
- The Shatin City One seller, who acquired the unit in September 1997 for HK$2.28 million, recorded a paper profit of HK$2.02 million or 89% appreciation
Why It Matters
The consecutive property transaction reports underscore the diverging fortunes between recent buyers and long-term holders in Hong Kong's secondary market. Short-term property ownership continues to carry substantial downside risk amid persistent price corrections, while legacy investors from earlier decades remain beneficiaries of historical appreciation. These transactions illustrate the current negotiating dynamic where sellers accept modest discounts and buyers leverage market conditions for strategic acquisitions .
The consecutive property transaction reports underscore the diverging fortunes between recent buyers and long-term holders in Hong Kong's secondary market. Short-term property ownership continues to carry substantial downside risk amid persistent price corrections, while legacy investors from earlier decades remain beneficiaries of historical appreciation. These transactions illustrate the current negotiating dynamic where sellers accept modest discounts and buyers leverage market conditions for strategic acquisitions .