"Harbour City" tenants enter the market, Tung Chung Ascot "two and a half rooms" sold for HKD 7.9 million

Cao Jiahua, the deputy district manager of the Dongchong Lantian Coast branch of Zhongyuan Real Estate, stated that the Dongchong area recorded 47 second-hand transaction deals this month, an increase of 12% compared to the same month last year. The branch recently facilitated the sale of Unit C on the 3rd floor of Shenghui, with a usable area of 714 square feet, featuring a two-bedroom layout plus a storage room, enjoying an open garden view. The owner initially priced it at HKD 8.3 million, and after negotiation, it was reduced by HKD 400,000, concluding the deal at HKD 7.9 million, with a usable price of HKD 11,064 per square foot.

The buyers are a couple who have been renting in Dongchong for several years. Seeing that the property market has stabilized and improved over the past year, with significant adjustments in property prices and a decline in interest rates, they believe now is a good time to purchase a property, thus transitioning from renting to buying for personal use.

The original owner purchased the unit for HKD 5.7182 million in December 2013, holding it for about 13 years, with a paper profit of HKD 2.1818 million, representing a 38% appreciation