At PARK YOHO in Yuen Long, an open-plan unit of about 251 square feet was originally priced at HK$3 million but was eventually sold for HK$3.08 million after an additional HK$80,000 was bid, averaging HK$12,271 per square foot. The original owner purchased it for HK$4.56 million in 2019 and sold it at a loss, resulting in a 32.5% decrease in property value after holding it for 5 years.

According to Tony Chan, Assistant Joint Managing Director of Midland Realty, a 284-square-foot, 2-bedroom unit at City One Shatin was sold for HK$4.22 million after the owner reduced the price by HK$20,000, with an average price of HK$14,859 per square foot. The original owner purchased the unit in 2022 and sold it at a loss of about HK$1.54 million after holding it for 2 years, depreciating by approximately 26.7%.

Internet

In addition, a high-level 3-bedroom unit at King Seng Court in Fanling, with an area of 598 square feet, was priced at HK$4.28 million. The owner eventually reduced the price by HK$20,000 and sold it for HK$4.3 million, at a rate of HK$7,191 per square foot. The original owner purchased the unit for HK$970,000 in 2002 and sold it at a high profit after holding it for 22 years, increasing the property value by 3.4 times.

Gary Ng, Senior Joint Chief Executive Officer of Midland Realty, stated that a 674-square-foot, 2-bedroom unit at Mei Foo Sun Chuen in Lai Chi Kok was initially priced at HK$10 million but was eventually sold for HK$6.65 million after a cumulative reduction of HK$3.35 million, at a rate of HK$9,866 per square foot, 4% lower than the market price. The original owner purchased it in 2015 and sold it at a loss of HK$150,000 after 9 years, depreciating by 2.2%.

Lastly, at Kam Sheung Road in Yuen Long, two consecutive detached houses were sold at Kam Sheung Road. One of the houses, a double-number house with an area of 1,035 square feet, was initially priced at HK$13 million but eventually sold for HK$12.34 million after negotiation, at a rate of HK$11,923 per square foot. The original owner purchased it in 2022 and sold it after 2 years, with a slight loss of HK$40,000, representing a decrease of about 0.3%.