The branch recently recorded Room G on the upper level of Phoenix Hill, with a saleable area of 582 square feet and a floor area of 675 square feet. The two rooms are separate and overlook the inner garden and are elegantly decorated.
The owner put an offer of around $12 million in April and finally he was willing to reduce the price by $3.5 million to change hands for $8.5 million, which is equivalent to the average utility square feet.
Liao Weiqiang, president of Ligo Real Estate, said that this week the Mainland announced the relaxation of entry quarantine measures, the Hong Kong side of the epidemic was further controlled.
In addition, the U.S. inflation situation has slowed down significantly, and the pressure to raise interest rates has been slightly reduced.
The good news drove the rebound of Hong Kong stocks and the atmosphere of the property market has also improved.
Based on the web-based data from Li Ka Kou Real Estate Branch, a total of 10 secondary transactions were recorded in the top 10 index estates in the past weekend (Nov 12 to Nov 13), compared to 5 transactions in the previous weekend (Nov 5 to Nov 6), a weekly increase of 5 or 100%, back to double digits.
Property prices in Hong Kong have been falling for some time and market participants believe there is little chance of a further sharp fall. Now is a good opportunity to enter the market and get many users and investors back into the market. I believe the situation of the property market will gradually improve.
In the weekend just past, the top ten indicators of estate transactions, if divided by region, the New Territories performed the best, recording seven transactions this weekend. Two transactions were recorded in Kowloon and Hong Kong was a mediocre performer.
Only one transaction was recorded this weekend. If divided by housing estates, City One Shatin performed the best, recording four transactions; Kingswood Villas recorded three; Taikoo Shing, Metro City and Mei Foo Sun Chuen each had one property.
As for Kornhill, Heng Fa Chuen, Whampoa Garden, Laguna City and Man Ying Garden, no transactions were recorded over the weekend.
