"The Hong Kong Property" has sold a three-bedroom unit in Hong Kong's Tseung Kwan O's Kingsford Garden for HKD 4.05 million, with a price per square foot of HKD 6,888

Lin Jianwei, Senior District Operations Manager of the Tseung Kwan O branch of Midland Realty, stated that the branch recently facilitated the second-hand transaction of Room L on a mid-level floor of Block 4, Hong Sing Garden in Tseung Kwan O. The unit has a usable area of approximately 588 square feet, with a three-bedroom layout and a southern orientation. It was acquired by a bank employee at a free market price of HKD 4.05 million, equivalent to a price per usable square foot of approximately HKD 6,888, which is in line with market prices.

It is understood that the original owner initially listed the property for HKD 4.1 million, and after about seven months on the market, ultimately accepted a slight reduction of HKD 50,000 from a buyer. The original owner purchased the property in July 1989 for approximately HKD 377,000, excluding the premium for land grant