Mainland Buyer Acquires Sai Wan Ho Flat as Cheung Sha Wan Estate Logs 24% Gain
On.cc · 1 SOURCESabout 3 hours ago2 MIN
Summary
Hong Kong's secondary property market continues to see active trading, with a mainland buyer acquiring an open-plan unit at The Tanner Hill in Sai Wan Ho for HK$6.09 million after receiving an HK$110,000 discount. Separately, a Cheung Sha Wan residential unit recorded a 24% gain over a 12-year holding period, while a Tsing Yi estate logged a loss of approximately HK$810,000 after seven years. These transactions highlight the diverse performance of Hong Kong's property market across different districts and property types.
Key Points
- A mainland buyer purchased The Tanner Hill Tower 5 low-floor flat at Sai Wan Ho for HK$6.09 million, originally listed at HK$6.2 million, representing a per-square-foot price of HK$28,326
- The original owner bought the 215-square-foot open-plan unit in 2017 for approximately HK$5.721 million, yielding a paper profit of about HK$370,000
- A Cheung Sha Wan Hei Yin Court mid-floor 518-square-foot two-bedroom unit sold for HK$7.38 million (HK$14,247 per sq ft), with the owner profiting HK$1.41 million from a 2014 purchase of HK$5.97 million
- Tsing Yi's Ming Kui Terrace Tower 1 high-floor 426-square-foot two-bedroom unit fetched HK$6.8 million, representing a paper loss of approximately HK$810,000 from the original purchase price of HK$7.613 million in 2019
- Aberdeen South Bay Harbour View Tower 2 high-floor 475-square-foot two-bedroom unit sold for HK$8.7 million, generating a paper profit of HK$5.77 million for an owner who purchased in 2004 for HK$2.93 million
Why It Matters
The contrasting investment outcomes—ranging from significant gains in older properties to losses on newer developments—underscore the complexity of Hong Kong's property market. For buyers and investors, these real-world transactions illustrate that location, purchase timing, and property type continue to drive returns in ways that defy simple market predictions .
The contrasting investment outcomes—ranging from significant gains in older properties to losses on newer developments—underscore the complexity of Hong Kong's property market. For buyers and investors, these real-world transactions illustrate that location, purchase timing, and property type continue to drive returns in ways that defy simple market predictions .