Sai Wan Ho, Cullinan West Units Fetch HK$51M Combined Amid Mixed Market
SingTao · 1 SOURCESabout 2 hours ago2 MIN
Summary
Two Hong Kong residential transactions totaling HK$51.38 million have highlighted the contrasting fortunes of property sellers in the current market. A family purchased a 3-bedroom unit at Karyl Garden in Sai Wan Ho for HK$18.1 million, with the seller barely recouping their investment after holding the property for approximately four years. Separately, a first-time buyer acquired a sea-view flat at Cullinan West IIA in Nam Cheong for HK$33.28 million, delivering a HK$4.7 million profit to the previous owner .
Key Points
- Karyl Garden Unit 5C, 5/F Low Zone: 749 sq ft 3-bedroom, sold for HK$18.1M (HK$24,165/sq ft)
- Original owner purchased Karyl Garden unit in June 2022 for HK$17.6M, sold at near break-even after 4 years
- Family buyer selected Karyl Garden for spacious layout and comprehensive estate facilities
- Cullinan West IIA Flat 2A-B, Mid Floor: 1,327 sq ft south-facing sea-view unit, sold for HK$33.28M
- Cullinan West seller bought in April 2017 for HK$28.58M, realizing HK$4.7M profit on HK$33.28M sale
- First-time buyer purchased Cullinan West IIA for its superior transportation connectivity and sea views
- Agents handling both transactions noted sustained demand from family buyers and first-time purchasers in the market .
Why It Matters
The back-to-back transactions underscore the uneven recovery in Hong Kong's secondary residential market, where older assets in certain districts have struggled to appreciate while well-located properties with premium views continue to command strong prices and capital gains .
The back-to-back transactions underscore the uneven recovery in Hong Kong's secondary residential market, where older assets in certain districts have struggled to appreciate while well-located properties with premium views continue to command strong prices and capital gains .