The filial son of "Hong Lou" purchased a sea view unit in Tsing Yi at a price of HKD 12.45 million as a gift for his parents, with a price per square foot exceeding HKD 16,000

According to Fan Dehui from Midland Realty, the company recently facilitated a transaction for a sea view unit in Tsing Yi's Ocean View Bay for HKD 12.45 million. The buyer stated that this purchase is a gift for their parents.

The unit sold is Room A on the high floor of Block 10 in Ocean View Bay, with a usable area of approximately 778 square feet, featuring a three-bedroom suite layout and an eastern sea view. It is reported that the unit was originally listed for HKD 12.6 million, and the buyer, a local resident, purchased it to provide a comfortable home for their parents, ultimately negotiating the price down to HKD 12.45 million, with a usable price of approximately HKD 16,003 per square foot.

Data shows that the original owner purchased the property in 2006 for HKD 4.738 million, holding it for 20 years, resulting in a paper profit of HKD 7.712 million, an appreciation of approximately 1.6 times