Landlord who collects rent abandons and sells at a loss! One-bedroom unit in Hung Hom's Kai On area with a rental agreement sold for 4.65 million!

According to reports, the unit sold this time is Room A5 on the middle floor of Kai On in Hung Hom, with a usable area of approximately 277 square feet. It is planned as a one-bedroom partition, meeting the basic living needs of those in need of housing or seeking rental income. The unit boasts a southwest orientation, offering direct sea view resources, making the scenic condition one of its core highlights. Ultimately, the unit was sold for 4.65 million yuan including the lease agreement, with a price per square foot of approximately 16,787 yuan.

It is noteworthy that the transactions of this unit are driven by the reluctance of the property owners to sell at a loss. In terms of value changes, the property value has shrunk by 21% over the past seven years, a depreciation rate far exceeding the expectations of many property owners. Ye Wenhao stated that the overall trading atmosphere in the second-hand property market is currently sluggish. Some property owners who hold rental properties have been affected by the market environment, leading to a dimmer outlook for the future. They have chosen to voluntarily withdraw from the market and decisively sell even if it means facing losses. This has become a prominent feature of recent second-hand property transactions.

From the perspective of the regional market, Hung Hom, as a traditional area with a high concentration of rigid demand, has relatively strong property liquidity. However, the loss-making transaction of the units at Kai On this time also reflects the adjustment pressure on second-hand property prices in the area. Industry insiders analyze that although the lease-to-lease transaction model can bring immediate rental income to buyers and reduce the financial pressure during the initial holding period, the fact that property owners choose to sell at a loss in this way also indirectly confirms the downward pressure on the current second-hand property market. It is expected that similar cases of property owners selling at a loss may continue to occur in the short term.