Secondary property market in HK takes a beating over long typhoon-hit weekend with only 1 transaction recorded in top 10 housing estates

Mei Foo Sun Chuen

3rd July 2022 – (Hong Kong) The secondary property market was almost quiet before the typhoon aggravated the situation over the weekend. Centaline Properties said that only one transaction was recorded in the top 10 housing estates over the weekend, down about 87.5% week-on-week, hitting a new nine-month low, while three transactions were recorded during the 3-day long weekend. In the past two days, only one transaction was recorded at Mei Foo Sun Tsuen in Lai Chi Kok, which was a low-price transaction.

A spokesperson for Midland Holdings Limited said that the flat D, the upper floor of Stage 7 – 10, Mei Foo Sun Tsuen in Lai Chi Kok has a saleable area of ​​about 906 square feet. In December last year, it was offered for sale at HK$13.2 million, a price reduction of HK$2.08 million. about 6% below market price.

Another spokesperson for Century 21 said that an owner of of mid-floor unit in Block 2A, Seanorama in Ma On Shan with a saleable area of ​​about 1,154 square feet, was initially put up for sale at a reduced price of HK$19 million. It was then dropped to HK$18.3 million in February, before selling at HK$17.45 million. The price per square foot is about HK$15,121. The owner sustained loss of about HK$1.68 million after holding for 4 years.