Treasure Court in Hung Shui Kiu sees 3-room flat sell for HK$3.8m, a 21.3% discount

Treasure Court

8th December 2023 – (Hong Kong) A three-room flat in Treasure Court Block 6, located in Hung Shui Kiu, has been sold for HK$3,800,000, a significant discount of 21.3% from its original price. The seller, who is migrating overseas, purchased the flat in 2013 for around HK$2,000,000 and has now sold it for a profit of around HK$1,800,000, a rise of nearly 90% in just seven years.

The flat, which has a usable area of approximately 594 square feet and is located in the middle floor of the building, was originally priced at around HK$4,000,000. However, the seller decided to sell it at a discounted price of HK$3,800,000, a move that is believed to be a result of the current economic climate and the increased supply of housing in the area.

The sale of this flat is significant because it represents a new low for the price of a three-room flat in the area, which has seen a sharp increase in property values in recent years. According to data, the previous lowest price for a three-room flat in the area was around HK$5,902 per square foot, set in 2016. The current sale price of HK$380,000 is a significant discount of 21.3% from the original price and represents a decrease of around 20% from the previous lowest price.