Laguna City Deal Suggests Secondary Market Resilient Despite New Competition
On.cc · 1 SOURCESabout 2 hours ago8 MIN
Summary
The secondary market demonstrated resilience this weekend as a two-bedroom unit at Laguna City (麗港城) in Cha Kwo Ling was sold for 6.93 million Hong Kong dollars, even as a new development in the same area hit the market . The transaction, involving Unit C on a high floor of Tower 24, spans 522 square feet and changed hands at 13,276 Hong Kong dollars per square foot . The seller, who originally purchased the property in July 2014 for 5.1 million Hong Kong dollars, realized a paper profit of 1.83 million Hong Kong dollars after holding the unit for approximately 12 years, representing a 36 percent appreciation .
Key Points
- Laguna City Tower 24 high-floor C unit sold for 6.93 million Hong Kong dollars, 522 sq ft, price per sq ft 13,276 Hong Kong dollars
- Original owner bought in July 2014 for 5.1 million Hong Kong dollars, held 12 years, realized profit of 1.83 million Hong Kong dollars, 36 percent gain
- Hyde Court (海怡閣) mid-high floor B unit sold for 5.35 million Hong Kong dollars, 328 sq ft, 16,311 Hong Kong dollars per sq ft
- City One (沙田第一城) Tower 3 high-floor F unit sold for 6.45 million Hong Kong dollars, 451 sq ft, after 150,000 Hong Kong dollar price reduction
- Lohas Park (日出康城) Le Quest (領凱) Tower 9 low-floor A unit sold for 7.2 million Hong Kong dollars, 676 sq ft, to outside district buyer
- Ma On Shan (馬鞍山) development Luna (嵐岸) Tower 3 mid-floor B unit sold for 9.6 million Hong Kong dollars, 734 sq ft, seller bought for 4.55 million Hong Kong dollars in 2006
- Tuen Mun (屯門) Ocean Crest (漣山) garden duplex sold for 13.3 million Hong Kong dollars, 1,653 sq ft interior plus 1,542 sq ft garden and two parking spaces
- Chai Wan (柴灣) Yuet Tsui Court (悅翠苑) high-floor 5 unit sold for 2.38 million Hong Kong dollars in the White Form Second Market, 407 sq ft, 5,848 Hong Kong dollars per sq ft
- Fo Tan (火炭) The Apex (晉名峰) Tower C mid-floor A unit sold for 12.5 million Hong Kong dollars, 922 sq ft, seller purchased for 10.1 million Hong Kong dollars in 2012
- Ma On Shan (馬鞍山) Marina House (天宇海) Tower 1B low-floor A unit sold for 10.53 million Hong Kong dollars after 4.1 percent reduction, 787 sq ft, seller bought for 6.62 million Hong Kong dollars in 2010
Why It Matters
The steady flow of transactions across various districts, from mass-market estates like City One to luxury areas like Happy Valley and waterfront developments such as Lohas Park, signals that Hong Kong's property market maintains broad-based buyer interest . The performance of secondary market units, particularly those held for extended periods, underscores how existing homeowners continue to benefit from significant capital appreciation even as new supply enters the market .
Attributed Transactions
Centaline Property agents involved: Sin Ji-ming (冼子明), Ng Wing-chee (吳詠慈), Hung Kam-hing (洪金興), Wu Yao-zu (胡耀祖), and Yao Zhi-rong (姚枝榮). Century 21 agents: Hu Pei-bi (胡佩碧) and Li Jia-wen (李嘉文). Ricacorp agents: Fung Qing-hao (馮慶豪) and Chen Long-xun (陳龍勳) .
The steady flow of transactions across various districts, from mass-market estates like City One to luxury areas like Happy Valley and waterfront developments such as Lohas Park, signals that Hong Kong's property market maintains broad-based buyer interest . The performance of secondary market units, particularly those held for extended periods, underscores how existing homeowners continue to benefit from significant capital appreciation even as new supply enters the market .
Attributed Transactions
Centaline Property agents involved: Sin Ji-ming (冼子明), Ng Wing-chee (吳詠慈), Hung Kam-hing (洪金興), Wu Yao-zu (胡耀祖), and Yao Zhi-rong (姚枝榮). Century 21 agents: Hu Pei-bi (胡佩碧) and Li Jia-wen (李嘉文). Ricacorp agents: Fung Qing-hao (馮慶豪) and Chen Long-xun (陳龍勳) .