North Point’s Harbour Glory unit sells at 5% loss, owner incurs HK$2.7 million deficit in recent transaction

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Harbour Glory

10th June 2024 – (Hong Kong) Harbour Glory, located at 32 City Garden Road, North Point, witnessed its first transaction of June as the second-hand property market trend persists. A 4-bedroom unit with panoramic Victoria Harbour sea view was sold for HK$43.6 million. The previous owner held the property for approximately 5 years, incurring a loss of over HK$2.7 million.

The unit, situated in Block 8 of Harbour Glory, is a mid-level apartment with a practical area of 1,324 square feet. It features a 4-bedroom layout with en-suite facilities, offering breathtaking views of the Victoria Harbour, fireworks, and the cruise terminal. The new buyer was particularly interested in residential estates on Hong Kong Island, and this unit’s rare harbour views combined with its convenient 2-minute walk to the MTR Island Line station, led to the purchase at HK$43.6 million, reflecting an average price per square foot of around HK$33,000, in line with market rates.

The previous owner had acquired the unit in 2019 for HK$46.31 million and held it for approximately 5 years. The recent sale resulted in a loss of around HK$2.71 million or approximately 5% of the initial investment.