The toy king's nephew sells the connected unit at Deer Hill Villa for HKD 31 million

A connected unit at Deer Hill Villa, owned by "Toy King" Tsai Chih-Ming's nephew Tsai Chia-Sung and related parties, was recently sold for approximately HKD 31 million, which is HKD 6.93 million or 28.8% higher than HSBC's online valuation of HKD 24.07 million.

According to reports, Tsai Chia-Sung and related parties sold units A and B on a high floor of Block 1 at Deer Hill Villa, which have been combined into a five-bedroom unit with a usable area of 2,280 square feet. The original asking price was HKD 36.88 million, which has recently been reduced to approximately HKD 31 million along with two parking spaces, resulting in a price per square foot of HKD 13,596.

It is understood that Tsai Chia-Sung purchased unit A for HKD 15.5 million in 2020, while unit B was bought by his wife for HKD 14.5 million in June of the same year, totaling HKD 30 million. Including the two parking spaces, the total cost was approximately HKD 32.19 million. Excluding transaction costs, this sale reflects a paper loss of about HKD 1.19 million