Out-of-District Buyer Purchases Eagle's Nest Two-Bed Unit for HK$8.33M
AM730 · 2 SOURCESabout 2 hours ago2 MIN
Summary
An out-of-district buyer has acquired a two-bedroom unit at Eagle's Nest, one of the "Four Little Dragons" residential developments in Lai Chi Kok, for HK$8.33 million. The 491 sq ft unit on the high floor of Tower 8, featuring garden views, was sold at approximately HK$16,965 per square foot. The property was originally listed at HK$8.43 million, with the seller agreeing to a HK$100,000 reduction after negotiations. Ricacorp Properties agent Li Kai-cheung facilitated the transaction, noting that the buyer found the neighbourhood amenities and unit layout appealing, with pricing considered reasonable for the market.
Key Points
- The property at Tower 8, High Floor, Unit A, Eagle's Nest spans approximately 491 sq ft of usable area with a two-bedroom layout and garden view
- The transaction price of HK$8.33 million reflects a price per usable square foot of approximately HK$16,965 after a HK$100,000 reduction from the original asking price of HK$8.43 million
- The buyer, an out-of-district purchaser, found the unit appealing and decided to proceed with the purchase after considering the neighbourhood amenities, practical layout, and reasonable pricing
- Eagle's Nest is located at 833 Lai Chi Kok Road, was completed in 2003, and comprises 7 towers with a total of 2,434 units
- The development currently has approximately 60 units listed for sale, with the lowest entry-level price starting from around HK$8.5 million
Why It Matters
This transaction reflects sustained demand from non-local buyers for well-established residential developments in established urban districts of Hong Kong. The buyer's decision based on neighbourhood amenities and practical unit layout underscores how livability factors continue to drive property decisions alongside price considerations. The active listing inventory of around 60 units at Eagle's Nest indicates a healthy supply for prospective buyers while maintaining price stability in the secondary market .
This transaction reflects sustained demand from non-local buyers for well-established residential developments in established urban districts of Hong Kong. The buyer's decision based on neighbourhood amenities and practical unit layout underscores how livability factors continue to drive property decisions alongside price considerations. The active listing inventory of around 60 units at Eagle's Nest indicates a healthy supply for prospective buyers while maintaining price stability in the secondary market .