According to Lau Ho-kan, Principal Divisional Director of Hongkong Land's Tseung Kwan O South Branch, two transactions have been recorded this month at the "Sandwich House" in Tseung Kwan O. Some buyers are seeing signs of a rebound in property prices and are catching the "last train" to enter the market at low levels.

The 4 blocks of The Cascades, with a saleable area of 660 square feet and a gross floor area of 827 square feet, is a 3-bedroom apartment with a multi-purpose workplace partition, facing north.

Lau Ho Kan said that the owner of the flat was approached by a new buyer one and a half months after placing an offer at $7.5 million, and after bargaining, he reduced the price by $610,000 and sold the flat for about $6.89 million, with a saleable area of about $10,439 per square foot and a building price of about $8,331 per square foot, which is about 4% higher than the market price.

It is understood that the buyer is a replacement customer, the preferred property unit has been renovated, and the original owner keeps the unit clean and tidy.

In addition, most of the furniture on the walls are suitable for the buyer's preference, so that the buyer can save renovation costs and time, so the buyer has made a decision to buy the property for self-occupation after viewing it once.

It is reported that the original owner bought the above unit in March 2014 for about $5.08 million and has held the property for more than 8 years, earning $1.81 million in book value, representing an appreciation of about 35.6%.

Occupied in 1998, The Cascades, a 24-year-old building with four blocks providing 1,424 units, is located near the MTR Po Lam Station and the Metropolis Basement Shopping Centre.