Centaline Property Yuan Xian Bank said, Hung Hom large blue-chip housing estate Whampoa Garden, the beginning of November so far temporarily recorded eight transactions, the average practical price of $ 12,897 per square foot, compared with the same period last year, $ 17,245 has plunged 25%.

Among them, a group of very low-level two-room apartment in the estate changed hands with 5.4 million yuan, compared with the purchase price three and a half years ago, the book eclipsed 20%, which is expected to be the most powerful case of depreciation of Whampoa Garden in recent years.

The above transaction for Whampoa Garden Phase 2, Block 18, low-rise A room, practical area of 389 square feet, with two rooms, the unit is sitting to the north, with new decoration, the latest transaction with 5.4 million yuan, the practical price of $ 13,882 per square foot.

It is understood that the original owner is a user, in April 2019 to 6,768,000 yuan to buy the above property for their own use, hold the goods for more than three and a half years, is the transfer of the account loss of 1,368,000 yuan, a depreciation of 20% during the period.

If you take into account the purchase of the tax and buying and selling commission expenses, the actual amount of loss of about 1.74 million yuan.

Yuan Xian Bank said that the original owner bought the unit in recent years, the whole house renovation, renovation costs of about 300,000 to 400,000 yuan, but the original owner did not disclose the reason for the significant loss of the sale.

He believes that in recent years, the overall economic environment is not good, many industries are affected by the impact, affecting the financial and repayment capacity, and interest rates after the property market has fallen sharply, but also on the psychological impact on the owners, so some owners also want to eclipse the property.

He also pointed out that the government does not "withdraw spicy" in the short term, and interest rates continue to rise, has caused many owners to increase the rate of reduction to sell their properties, and "a flat than one", the construction price has been reduced by about 20% since July this year, the property prices have the opportunity to further deteriorate in the next three months.

He revealed that the estate currently has about 250 sales put on the market, of which the rate of reduction of about 40% to 50%.

On the other hand, Hong Kong Island traditional blue-chip housing estates Quarry Bay Taikoo Shing tentatively recorded eight transactions in November, the average practical feet price of about 15,800 yuan, compared with the same period last year 20,057 yuan a big drop of about 21%.

Centaline Property Cheung Kwong Yiu revealed that the recently recorded Taikoo Shing Silver Star Court middle A room changed hands, the practical area of 749 square feet, a three-bedroom set interval, hope that the single side of the open sea view.

The owner put on the market in September, asking price 15,500,000 yuan, and finally accumulated a reduction of 3,092,000 yuan to 12,408,000 yuan will change hands, equivalent to the price of $ 16,566 per square foot.

This transaction price compared to the peak property prices in June 2021 housing estates of three-bedroom units sold at $17.98 million, down $557.2 million or 31%.