According to market reports, this unit is located on a low floor in Block D of The Summa, with a practical area of 588 square feet and a two-bedroom layout. The original asking price was HKD 15.5 million, but it eventually transacted at HKD 10.58 million, translating to approximately HKD 17,993 per square foot. This marks the first time a unit in this development has been sold at a price below HKD 18,000 per square foot, setting a new record low for the development.

The original owner purchased this unit in October 2012 for HKD 14.81 million, holding it for over 11 years, and incurred a total loss of HKD 4.23 million, resulting in a property depreciation of 28.6%.

This year, The Summa recorded six second-hand transactions, with five of them resulting in losses. The aforementioned unit is not only the largest in terms of loss amount and percentage this year but also a record for the development.

Another example involves a property linked to Hong Kong singer Joey Yung, where a one-bedroom unit on a low floor in the same building was sold for HKD 10.25 million in February of last year. With a practical area of 465 square feet, this unit marked a loss of HKD 1.098 million compared to the purchase price of HKD 11.348 million in 2012, representing a decrease of 9.7%.

In addition to these, the first case of a second-hand loss transaction has occurred in Artisan House 2 in Sai Ying Pun. According to market sources, a mid-floor unit in Block H with a practical area of 214 square feet and an open layout was originally listed for HKD 5.38 million. It eventually transacted at HKD 4.5 million, approximately HKD 21,028 per square foot. The original owner purchased this unit in March 2021 for HKD 6.51 million, holding it for over two and a half years, incurring a total loss of HKD 2.01 million, with a depreciation rate of 30.9%.

Similarly, in Ming Yuen Mansions Phase 1 in North Point, a high-floor 5-bedroom unit with a practical area of 662 square feet and a 3-bedroom layout recently transacted at HKD 7.68 million, approximately HKD 11,601 per square foot. It is known that the original owner purchased this unit in November 2019 for HKD 10 million, holding it for four years. Selling it now incurs a loss of HKD 2.32 million, representing a property price decrease of 23.2%.

These cases with substantial losses reflect the current trend of real estate adjustments. According to Yuan Xian'an, District Business Manager at Midland Realty, a low-floor unit in Block E of South Horizons Phase 7 in Hung Hom, with a practical area of 481 square feet and a 2-bedroom garden view layout, recently transacted for HKD 7.1 million, setting a new record low for the development, falling below HKD 18,000 per square foot.

The appearance of these loss cases has sparked attention and reflection on the property market. Currently, there is relatively ample supply in the real estate market, while demand is relatively weak. Combined with the fluctuations in the macroeconomic situation, this has led to price declines in some properties.

However, it is essential to emphasize that adjustments in the real estate market are normal market phenomena and may be temporary. With government policy regulation and active market adjustments, the real estate market may return to a stable state in the future. For buyers, choosing the right time to purchase and approaching market fluctuations rationally is crucial.