Long-Held Hong Kong Homes Sell for Strong Gains
SingTao · 1 SOURCESabout 2 hours ago2 MIN
Summary
Hong Kong's secondary home market has recently seen a series of profitable resales by long-term owners as sentiment improved and pent-up demand returned. The standout deal was a high-floor flat at Central Park Hoi Wan in Tai Kok Tsui that sold for HK$26.08 million, generating a paper gain of more than HK$10.33 million after a 16-year holding period . Other blue-chip estates including South Horizons, The Wings and Blue Bay Peninsula also recorded transactions, with some buyers entering for owner-occupation and others for rental investment .
Key Points
- Ricacorp's Tsui Kam-wing said Tower 1, high-floor Flat D at Central Park Hoi Wan, measuring about 1,014 square feet, sold for HK$26.08 million after being listed at HK$28.08 million .
- The Tai Kok Tsui seller bought the harbour-view three-bedroom unit with store room and maid's suite for HK$15.741 million in 2010, making about HK$10.339 million, or 65.7% .
- In Ap Lei Chau, Centaline's Lo Keng-ho said South Horizons Block 19, high-floor Flat C, a 581-square-foot three-bedroom suite, sold for HK$8.55 million at HK$14,716 per square foot .
- The South Horizons owner purchased in 2006 for HK$2.64 million and sold after 20 years, booking a paper profit of HK$5.91 million, equivalent to about 2.2 times appreciation .
- Other deals included a 521-square-foot flat at Royal Court in Mid-Levels West for HK$10.32 million, a 538-square-foot unit at The Wings Phase 1 in Tseung Kwan O for HK$10.86 million, and a Blue Bay Peninsula flat bought by an investor targeting about 3.5% rental yield .
Why It Matters
The transactions suggest that improved sentiment is helping unlock supply from long-time owners, giving both end-users and investors more options in established estates . For Hong Kong readers, the mix of self-use purchases and yield-driven buying points to a market where confidence is recovering unevenly, with pricing, rental return and holding period all shaping decisions .