Homeowners regain confidence as cooling measures ease, instances of higher revised asking prices resurface

Chai Kung Mansion

28th February 2024 – (Hong Kong) In the wake of the comprehensive relaxation of cooling measures in the property market, homeowners are once again displaying their ambition, leading to a resurgence of counter offers in various districts. Kam Din Terrace at Chai Kung Mansion in Taikoo Shing, Quarry Bay, saw a remarkable case of negotiation. A mid-level two-bedroom unit with a practical area of approximately 580 square feet initially had an asking price of HK$8.8 million. However, the price has recently been revised at HK$9.3 million, marking an increase of approximately 5.7%. While homeowners continue to update their asking prices, such counteroffer situations are not yet widespread.

Similar situations have emerged in Laguna City at Cha Kwo Ling. According to local agents, some prospective buyers were inspecting properties until late Tuesday night, rushing to enter the market. However, the intentions of the homeowners are on hold until the announcement of the financial budget. Today, updates on the asking prices of these properties were released, with a fourth-phase two-bedroom unit seeing an increase from HK$5.9 million to HK$6.3 million, while another two-bedroom unit was promptly closed for negotiation.

A middle-floor unit in Block 2, City One Shatin, with a practical area of approximately 327 square feet and two bedrooms, initially had an asking price of HK$4 million. However, it has recently been offered at HK$4.3 million, representing an increase of approximately 7.5%.

In Tsuen Tak Gardens, Block B, at Tsuen Wan, a low-level unit with a practical area of approximately 341 square feet, the asking price was reduced from HK$3.4 million to HK$3.18 million in an attempt to attract buyers. However, despite this adjustment, there has been no interest from potential buyers. Today, the decision to completely withdraw from the market was announced, leading the homeowner to promptly freeze the negotiation.