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HOS flat prices reduced in many districts
Aug 8, 2023
HOS flat prices reduced in many districts Hong Kong
By   Wen Wei Po 
  • City News
  • Transaction Quotes
  • Low Property Prices
  • Hong Kong Housing Market
Abstract: New property prices in the city, coupled with the interest rate trend is not clear, the second-hand transactions have become quiet, many districts in the New Territories Home Ownership Scheme (HOS) owners to reduce prices to stop making money cases.

Midland property Wang Zilong said, some of the owners to expand the bargaining space to stop making money to leave the market, the latest contributed to the Po Nga Court, Tai Po, 443 real feet of households sold in the free market at $4.9 million.

 

Transaction unit for the Po Nga Court, Block C, high-rise 10 rooms, with an area of 443 square feet, 2 rooms apart, is a land premium has been paid for the release of the property. It is reported that the buyer for the district users, love the estate is close to the Tai Wo railway station, so see the property once that bargained $480,000 to 4.9 million (free market price) to undertake, equivalent to the foot price of about 11,061 yuan. The original owner in 2010 to 1.68 million yuan to buy the unit, the book profit of 3.22 million yuan.

 

In other areas, Century 21 Kee Fung property Zhao Yong Xin said, recently recorded Ma On Shan Fu On Garden 17 high-rise apartment A transaction, area of 602 square feet, is a 3-bedroom 2-bathroom spacing, looking at the mountain view, the original asking price of 3.6 million yuan (Habitat II market price), the release of up to one year and four months, a reduction of 250,000 yuan to 3.35 million yuan (Habitat II market price) transaction, a reduction of 6.9 per cent, the feet of the price of 5,565 yuan. It is understood that the original owner as early as November 1988 to buy the site, when the price was only $330,000 (before land premium), holding the goods so far book profit of $3.02 million.

 HOS flat prices reduced in many districts

As for the Tin Shui Wai HOS Tin Fu Court recorded outside the first home buyer sale and purchase cases, Cheung Yick Properties Lam Ka Lun said, the transaction unit for the O Block high-rise 3 rooms, area of 506 feet, two bedrooms and two bathrooms, the buyer for the Green Form outside the first home buyer, in the original owner is willing to cumulatively reduce the 470,000 yuan under the so to 3.53 million (Habitat II market price) purchased on the site as a self-occupation, the average foot price of 6,976 yuan. The original owner purchased the flat in 2001 for about $744,000 (Home Ownership Scheme (HOS) 2 market price) and made a profit of $2.786 million on this occasion.

 

On the other hand, Centaline Property's Yu Chung-ping said the rental market was booming as it was the peak season for summer holiday rentals, and with the interest rate not yet known, some users switched from buying to renting. The Tsuen Wan district recorded about 240 leasing transactions last month, and about 30 transactions have been recorded this month for the time being. The bank has recently facilitated the leasing transaction of Room 03 in the upper floors of Loyalist Residence, with an area of 538 sq ft and a three-bedroom suite spacing. As the tenant was willing to pay one year's rent in advance, the landlord reduced the rent by $1,000 to $17,500 per month, which translates into a foot rent of about $32.5. The new tenant is a Mainland master's degree student who came to Hong Kong with his family to study.

 

In addition, a mainland student from Lingnan University paid one year's rent in advance to move into a two-room flat in Stacked Garden, Tuen Mun. Cheung Yick Properties Koo Man Bun said, stack Yin Ting, Block 9, high-rise flat A, with an area of 381 square feet, the landlord recently released less than 24 hours to get two mainland students to take up the lease. Tenants like the unit with enterprise decoration, and can walk to Lingnan University school, so the monthly rent of 12,000 yuan and a one-time prepaid one-year rent to rent the unit, the average foot rent of 31.5 yuan.

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HOS flat prices reduced in many districts
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