Recent movements in Hong Kong's property market have raised eyebrows, particularly regarding the secondary transactions of new properties. Notable examples include North Point's Victoria Harbour Residence and Ma On Shan's Double Cove Starview. These areas have seen property transfers with substantial losses, with many owners losing millions of dollars, highlighting the market's instability and risks. This situation has prompted closer scrutiny and reflection on Hong Kong's real estate sector.

Victoria Harbour Residence in North Point** is one prominent example. A high-floor unit of approximately 378 square feet recently sold for HKD 10.68 million. However, the original owner, who held the property for about six years, incurred a loss of over HKD 7.8 million, marking one of the largest loss-making transactions in the estate's history. This raises questions about why such high-priced new properties are experiencing such significant losses.

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Double Cove Starview in Ma On Shan** also saw notable losses. A ground floor duplex with a garden was initially listed for HKD 47 million but ultimately sold for HKD 41 million, reflecting a price reduction of 12.8%. The original owner lost HKD 6 million during the ownership period, which is not an isolated case.

Similar situations are evident in other regions as well. For instance, a high-floor unit in The Grampian in Ho Man Tin sold for HKD 68.5 million, but the owner, who held the unit for less than four years, lost HKD 10 million, a 12.7% decrease. In The Regent in Tai Po, a low-floor unit saw a loss of 16.3%, underscoring the market's volatility and uncertainty.

The reasons behind these transactions warrant careful consideration. Changes in market supply and demand dynamics, property quality, or location-specific factors could be contributing. Regardless, these cases highlight the risks and challenges associated with real estate investment, reminding us to exercise caution when engaging in property transactions.