A large 3-bedroom flat was sold for $1.28 million, up from $34 million to $35.28 million, after the announcement of the US interest rate hike.
In addition, a 3-bedroom flat with sea view in Hao King Wan, a large housing estate in Tsing Yi, New Territories, was offered for sale at $16 million, but the owner closed the sale as soon as he saw that the pace of interest rate hike had significantly slowed down and was optimistic about the future market.
Centaline Property's Chan Ka Hung said that a useful family has accelerated the pace of market entry by purchasing a 1,048 sq ft, 3-bedroom flat in the upper floors of Block 5, Harbour View, North Point, through a branch.
The flat was offered by several buyers and sold from $34 million to $35.28 million, equivalent to $33,760 per square foot.
The original owner bought the unit in 2017 for $37.78 million and has held it for six years, losing $2.5 million and depreciating the value of the unit by 7%.
Centaline Property Chiu Hung-yun also revealed that the Federal Reserve has narrowed the range of interest rate hikes, and the Hong Kong Bank has not followed suit for the time being, which is good news for the property market.
In Taikoo Shing, Quarry Bay, individual owners were the first to raise their asking prices, with the asking price of a 689 sq ft flat in the upper floors of Tai Shan Court being raised from $11 million to $11.5 million.
In the New Territories, Leong Koon Yew of Ricacorp Properties said that Flat H in Block 5 of Hao King Wan, Tsing Yi, is a key development with a floor area of 853 sq ft and a 3-bedroom suite with a storage room and a view of the Rambler Channel.
The unit was offered for sale earlier at $16 million, but the owner decided to close the property immediately and consider relaunching it at a higher price later, seeing that the pace of interest rate hikes had slowed down significantly and second-hand transactions had become more active after the customs clearance.
Leung Kwan-yiu also revealed that the original asking price for a 365-square-foot low-rise flat G in Block 5 of Tsui Yee Garden in Tsing Yi was $5.78 million, but the owner also raised the price to $5.9 million yesterday because he was optimistic about the future market.
In addition, Ricacorp Properties' Cheng Kai-chung said the bank counted at least 15 closed counteroffers in Tseung Kwan O in the first two days of February, half of which came after the Federal Reserve raised interest rates yesterday.
Among them, a 489-square-foot flat C in the upper floors of Block 1B in Jinhai was originally asked at $8 million, but was adjusted to $8.25 million after the US interest rate hike. In addition, the asking price of Flat F in the middle and upper floors of Block 5 at Azure Bay Shores was also adjusted from $7.8 million to $8 million.
According to Centaline Property, the US interest rate hike has slowed down further and the city is looking forward to the end of the hike cycle, which is expected to further accelerate secondary transactions.
The latest transaction was the sale of a 505 sq ft, 2-bedroom flat C in Block 2 of Ocean Shores for $7.9 million, equivalent to $15,644 per square foot.
It is reported that the original owner purchased the above site in January 2011 for $3.75 million and left with a profit of $4.15 million or 110% on the sale.
In other areas, Centaline Property's Wang Qinxue also revealed that individual owners in Yuen Long have raised their asking prices, such as Room H on the middle floor of Block 1, No. 8 Long Ping, with an area of 481 square feet, from $7.6 million to $7.8 million.
