"Harbour Building" Wan Chai Shang Qiao Feng three-bedroom converted to two-bedroom sold for HKD 13 million, held for nearly 20 years with an appreciation of about 80%

Central Plains Real Estate recently facilitated a transaction for a unit at Wan Chai's Shang Qiao Feng, specifically a unit in Phoenix Tower with a usable area of 531 square feet. Originally designed as a 3-room layout, it has been modified to a 2-room layout, boasting sea views and views of the racecourse. The unit was initially listed at HKD 14 million and ultimately sold for HKD 13 million, translating to a price of approximately HKD 24,482 per usable square foot.

The new buyer is an investor who is fond of the unit's location in Phoenix Tower. Additionally, there are not many units in Shang Qiao Feng with sea views, which provides certain value retention and investment potential, leading to the decision to enter the market for long-term investment. The original owner purchased the unit in 2006 for HKD 7.21 million and has held it for nearly 20 years, during which there was an internal transfer. This transaction yielded a profit of approximately HKD 5.79 million, with the unit appreciating by about 80% during the holding period