Small Hong Kong Flats Keep Selling at Loss
AM730 · 2 SOURCESabout 1 hour ago5 MIN
Summary
Hong Kong’s loss-making resale trend persisted in the secondary private housing market, with two compact units in Tuen Mun and Tin Shui Wai sold below their original purchase prices. In Tuen Mun, a studio at T Plus changed hands for HK$2.498 million after the owner had bought it first-hand in 2019 for about HK$3.054 million. In Tin Shui Wai, a one-bedroom-with-store-room unit at Wetland Seasons Bay sold for HK$4.5 million, leaving the seller with a paper loss of about HK$1.4879 million after a 2022 first-hand purchase. The two deals point to continued pressure on smaller private flats, including units that have fallen into the “HK$2 million range.”
Key Points
- Market sources said a high-floor Flat 12 at T Plus in Tuen Mun, with a saleable area of about 167 square feet, sold for HK$2.498 million.
- The Tuen Mun unit had been listed at HK$2.48 million and was eventually sold about HK$18,000 above the asking price, at roughly HK$14,958 per square foot.
- The original owner of the T Plus studio bought it first-hand in 2019 for about HK$3.054 million and exited with a paper loss of about HK$556,000.
- Ricacorp Properties senior associate director Wong Siu-man (黃肇雯) said her team brokered the sale of a low-floor B1 unit in Block 2B of Wetland Seasons Bay.
- The Wetland Seasons Bay flat has a saleable area of about 355 square feet, a one-bedroom layout with a store room, and sold for HK$4.5 million, or about HK$12,676 per square foot.
Why It Matters
For Hong Kong buyers and owners, these transactions show that small private flats can still face notable resale pressure even when they attract end-user demand. They also suggest that first-hand buyers who entered at higher launch prices in recent years may remain vulnerable to losses when they sell into the secondary market.