Sai Kung House Sold for HK$33M, Price per Sq Ft Exceeds HK$20,000 Again
SingTao · 1 SOURCESabout 2 hours ago2 MIN
Summary
A luxury house transaction in Sai Kung and an investment purchase in Quarry Bay highlighted Hong Kong's resilient property market on September 28, 2026. A detached house at Koon Fu Court sold for HK$33 million, with the price per square foot exceeding HK$20,000 for the fourth time this year. Meanwhile, an investor acquired a smaller unit in the eastern district for rental yield purposes.
Key Points
- A house at Koon Fu Court Phase 4 Section J in Sai Kung, measuring 1,530 sq ft with a 996 sq ft garden and 31-foot private berth, sold for HK$33 million (HK$21,569 per sq ft)
- The seller originally listed the property at HK$38 million but agreed to a HK$5 million reduction (13.2% discount) to close the deal
- The previous owner bought the property in November 2001 for HK$7.6 million and earned a profit of HK$25.4 million after 25 years, with the property value appreciating 3.3 times
- Century 21 Qifeng Property Sales Director Liu Zhenxiong noted this marks the fourth transaction exceeding HK$20,000 per sq ft in the estate this year
- In Quarry Bay, a top-floor unit with rooftop at Nam Fung Court Block 6 (391 sq ft, 2-bedroom) sold for HK$5.6 million (HK$14,322 per sq ft) to an investor
- The Nam Fung Court investor expects a monthly rent of HK$18,000, translating to a rental yield of approximately 3.9%, according to Midland Associate Deputy Regional Sales Director Yuan Guangda
- The Nam Fung Court seller purchased the unit in 1992 for HK$1.6 million and made a profit of HK$4 million after 34 years, representing a 2.5-fold increase in value
Why It Matters
The Koon Fu Court transaction demonstrates sustained demand for premium houses in Hong Kong's suburban areas, even as sellers accept significant price reductions. The strong rental yield at Nam Fung Court underscores continued investor interest in the Hong Kong Island East commercial corridor, where proximity to business hubs continues to support tenant demand and stable rental income .
The Koon Fu Court transaction demonstrates sustained demand for premium houses in Hong Kong's suburban areas, even as sellers accept significant price reductions. The strong rental yield at Nam Fung Court underscores continued investor interest in the Hong Kong Island East commercial corridor, where proximity to business hubs continues to support tenant demand and stable rental income .