Apartment unit at The Met. Blossom in Ma On Shan prices hit new low of below HK$3m, 19% decline in 2 years

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The Met. blossom

26th February 2024 – (Hong Kong) A unit at The Met. Blossom in Ma On Shan was sold for approximately HK$2.82 million. The unit, identified as A1 on the middle floor and spanning approximately 229 square feet, features an open layout. With a price per square foot of around HK$12,314, this transaction marks a new low in the secondary market for the development.

Parco Chan, the spokesperson for Centaline Property Agency, provided insights into the sale. He revealed that the buyer is an upgrader who intends to reside in the unit. It is worth noting that the previous owner had purchased the property in 2022 for HK$3.47 million, holding it for approximately two years. The sale resulted in a loss of about HK$650,000, reflecting a depreciation of around 18.7% during the holding period. Ma On Shan has recorded approximately 31 secondary market transactions in February.