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Hong Kong's Secondary Residential Market Welcomes New Vigor
Hong Kong's Secondary Residential Market Welcomes New Vigor 香港
By   Internet
  • 城市報
  • Hong Kong Secondary Residential Market
  • Home Ownership Scheme Market
  • Housing Market Trends
  • Buyer Demand
Abstract: Under the influence of the "withdrawal of Double Stamp Duty (DSD)" policy, Hong Kong's secondary residential market is showing positive development, with the HOS market being particularly favored and becoming a popular choice for many buyers. In the future, market activity and buyer demand will continue to drive the Hong Kong secondary residential market towards a healthier and more stable direction.

In recent times, Hong Kong's secondary residential market has continued to show new vitality, with the implementation of the "withdrawal of Double Stamp Duty (DSD)" policy having a profound impact on the market. This policy has injected a large number of reasonably priced new properties into the market and brought new market opportunities for properties eligible under the Home Ownership Scheme (HOS), increasing buyers' attention to the market once again. Of particular note is the HOS market, which, due to its relatively affordable prices, has attracted the attention of many HOS buyers and become one of the current market hotspots.


In terms of actual market conditions, a transaction case of a mid-level unit F at Richland Gardens in Tuen Mun has attracted widespread attention. The property, with an area of 592 square feet, was sold for HK$4.23 million, with a price per square foot of HK$7,145, attracting visits from multiple interested buyers. After the owner adjusted the price on-site, a successful bidder under the HOS scheme managed to purchase the property.


Hong Kong's Secondary Residential Market Welcomes New Vigor

Internet


Another property at King's Parkhill recorded two transactions within just two days, demonstrating the market's activity. Among them, a mid-level unit G in Block 4 and a high-level unit B were sold at reasonable prices, attracting the interest of a new batch of HOS buyers.


A case at Villa Esplanada also received attention, with a mid-level unit G sold for HK$4.5 million, commanding a high price per square foot of HK$7,979. The original owner purchased the property for HK$1.65 million in 1996 and successfully exited the market after 28 years of ownership, making a profit of HK$2.85 million. This demonstrates the potential value of long-term property holding. Meanwhile, transaction cases at South Horizon and Kam Shan Court in Ma On Shan also illustrate the level of market activity and buyer interest.


Observing the current market trends, as a large number of new properties are absorbed, owners are gradually tightening their bargaining space, prompting some prospective buyers to turn their attention to the HOS market in search of properties with greater investment value. This indicates buyers' flexible response to market changes and their recognition of investment value.

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Hong Kong's Secondary Residential Market Welcomes New Vigor
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