Hong Kong Qingyi Mingqiaohui 4-bedroom joint lease sold for 10.9 million! Owners have lost 5.18 million yuan in 2 years of holding goods!

According to the latest market news, Mingqiaohui, a mid to high end residential project in Qingyi, has recorded a second-hand transaction of a four bedroom unit. The original owner has been in charge of the property for less than two years, with a book loss of up to 5.18 million yuan and a unit depreciation rate of 32%, becoming a typical case of partial adjustment in the current market.

Cai Weiming, Senior District Business Manager of Zhongyuan Real Estate Qingyi City Second Branch, revealed that the unit sold this time is Unit A, a high-rise building in Mingqiaohui, Qingyi, with a practical area of 805 square feet. It adopts four bedroom suite spacing and enjoys the advantage of sea view, which is a high-quality unit in the estate. It is reported that the original owner officially put the unit up for sale last month, with an initial selling price of 11.5 million yuan, and attached a lease agreement and no viewing. This condition reflects to some extent the owner's eagerness to cash out. After multiple rounds of negotiation, the owner finally agreed to reduce the price by 600000 yuan and complete the transaction for 10.9 million yuan, equivalent to a practical price of 13540 yuan per square foot.

According to transaction data, the original owner of the unit purchased it for 16.08 million yuan in May 2024. Within a short holding period of less than two years, the book loss amounted to 5.18 million yuan, with a depreciation rate of 32%, indicating a significant loss. Cai Weiming added that reviewing the transaction records of similar units in Mingqiaohui, the previous transaction of a four bedroom unit was for two high-rise A rooms recorded in July last year. At that time, the transaction price was 10.88 million yuan, which was basically the same as the price of the new transaction unit. This shows that the prices of similar units in the housing estate have remained relatively stable in the past six months, and there has been no further significant decline.

It is worth noting that the buyer of this unit is a property exchange customer, and their entry logic into the market is in sharp contrast to the owner's departure mentality. It is reported that the buyer highly favors the spacious and practical layout design of the unit, while also valuing the advantage of the newer building age of Mingqiaohui. According to data, Mingqiaohui was completed and occupied in December 2021, with complete facilities such as a clubhouse and swimming pool, as well as scenic resources facing the sea and mountains. The current Hong Kong real estate market is showing a prosperous trend, with a gradual decrease in high-quality flat supply. However, the selling price of this unit is already at the lowest level among similar units in the housing estate. Therefore, buyers are willing to accept the condition of buying with a lease, and plan to renovate and use it after the lease expires in June this year.