28th October 2026 – (Hong Kong) A large private estate flat has sold after back‑to‑back price cuts, underscoring continued softness in the mass market. The high‑floor two‑bedroom unit at Heng Fa Chuen, Block 31, Flat 6, with a saleable area of about 498 square feet and a street view, was first listed in September at HK$7.6 million before the asking price was trimmed to HK$7.2 million in October.
According to Midland Realty, negotiations concluded at HK$7.05 million, representing a reduction of about HK$550,000 in roughly one month, or around 7.2 per cent. The achieved price equates to approximately HK$14,157 per square foot. The buyer is understood to be from outside the district and opted for the estate due to its living environment and proximity to the MTR, purchasing the property for owner‑occupation as an upgrade.
Land records indicate the seller acquired the flat in July 2018 for about HK$8.8 million and has held it for around eight years. On those figures, the latest transaction implies a book loss of roughly HK$1.75 million and an estimated depreciation of about 19.9 per cent over the period.
