Two-bedroom unit in Yau Ma Tei listed for only HK$2.18m, at a rate of HK$7,300psf


16th June 2024 – (Hong Kong) In response to the increasing demand for affordable housing in Hong Kong, AA Property Auctioneers Ltd. is set to showcase approximately 59 properties in their upcoming auction on Tuesday, the 18th of June. Among the listings is a two-bedroom unit located on the lower level of Hamilton Building in Yau Ma Tei. This unit, equipped with an elevator, boasts a practical area of approximately 297 square feet and has an initial price of HK$2.18 million, equivalent to an attractive rate of approximately HK$7,340 per square foot.

The auction also features a high-level unit, in the same building with a practical area of around 260 square feet. Earlier this year, it changed hands for approximately HK$2.5 million, resulting in a rate of approximately HK$9,615 per square foot. Comparatively, if a unit with a similar area to the auctioned property is sold, it would trace back to 2020 when a high-level Unit A was sold for around HK$3.29 million, equating to a rate of approximately HK$11,077 per square foot.