Tsing Yi Sea-View Unit Sells at HK$17,595 per Sq Ft Despite 1% Price Hike
On.cc · 1 SOURCESabout 2 hours ago2 MIN
Summary
A sea-view 2-bedroom unit at Horizon Park in Tsing Yi has been sold for HK$8.78 million, with the final price reflecting a 1% increase from the original asking price. The buyer acted decisively despite the seller's upward revision, indicating continued confidence in Hong Kong's prime residential market. The property, located in Tower 10, Mid-Floor B, spans 499 square feet and commands a price per square foot of HK$17,595. According to agent Midland Realty, Hong Kong is currently not expected to raise interest rates, which may have influenced the buyer's prompt decision .
Key Points
- Horizon Park Tower 10 Mid-Floor B unit: 499 sq ft, 2-bedroom, sea-view, sold for HK$8.78 million (HK$17,595/sq ft)
- The original owner purchased in July 2000 for HK$2.492 million, realizing a gain of HK$6.288 million over 26 years
- Other transactions include a Friendship Building unit in Happy Valley sold for HK$9.3 million (HK$12,775/sq ft) to a first-time buyer
- Tuen Mun Festival City High-Floor C unit: 342 sq ft, 1-bedroom, sold for HK$4.35 million after a HK$50,000 price reduction
- Tsuen Wan Tsuen King Garden Mid-Floor A unit: 495 sq ft, 3-bedroom, sold for HK$5.7 million to a local talent tenant
Why It Matters
The transaction demonstrates that Hong Kong's residential market remains active even when sellers increase their asking prices, suggesting underlying demand strength. The buyer's willingness to pay a premium for a sea-view unit reflects the continued premium placed on quality location and amenities in the city's competitive property market .
The transaction demonstrates that Hong Kong's residential market remains active even when sellers increase their asking prices, suggesting underlying demand strength. The buyer's willingness to pay a premium for a sea-view unit reflects the continued premium placed on quality location and amenities in the city's competitive property market .