The second-hand real estate market is making efforts to recover! Mainland tourists worth 13.97 million yuan enter a three bedroom apartment in Baiaozhuang

Over the past weekend, the top ten housing estates in Hong Kong recorded 16 transactions, rebounding by 128% on a weekly basis, setting a new high in nearly four weeks. The number of zero transaction estates has significantly decreased to only one, with only Laguna City failing to record trading. The market recovery momentum is clearly visible. Among them, the large housing estate Pak Au Estate above Tai Wai Station has become the "leader" in the second-hand market, recording 11 second-hand transactions in February, of which 8 were profitable transactions, highlighting the profit making effect and further driving market confidence to rebound.

Market news shows that Unit A on the lower floor of Block 6B in Phase II of Baiaozhuang has become the most closely watched transaction unit in recent times. The unit has a practical area of 682 square feet and is a comfortable three bedroom unit. It was ultimately sold for 13.97 million yuan, equivalent to a practical price of approximately 20484 yuan per square foot. Tracing back to the transaction history of the unit, the original owner purchased it for 12.2 million yuan in 2020. After a 6-year holding period, the unit sold for a book profit of approximately 1.77 million yuan, with an appreciation rate of 14.5% during the period, becoming a typical case of "steady appreciation" in the second-hand market.

It is worth noting that the new buyer of this unit is a mainland Chinese, whose property planning combines investment and self occupation needs. It is understood that the new buyer plans to purchase the unit and use it for rent first, and then reclaim it for self occupation after subsequent demand adjustments. Based on the current market rent in the area, the monthly rent for this three bedroom unit is approximately 38000 yuan. Based on this calculation, the rental return rate is about 3.3%. In the current market environment, this return rate is at a reasonable level and also reflects the investment value of the unit. As a development project of MTR Tai Wai Station, Pak Ao Estate enjoys the advantages of the East Rail Line and Tuen Ma Line, making it very convenient to travel between Hong Kong Island, Kowloon and even Shenzhen. The complete transportation facilities are also an important factor in attracting mainland buyers.

According to the information provided by the comprehensive agency, among the 11 second-hand transactions in February, more than 70% of them were profitable, reaching 8 cases, all of which were concentrated in 2-bedroom and 3-bedroom essential units. The transaction price range was between 9.9 million and 13.97 million yuan, and the practical price per square foot was about 20300 to 21900 yuan. The profit margin of the owners ranged from 2.3% to 14.5%. This data not only reflects the value preservation and appreciation ability of Baiaozhuang as a large housing estate, but also confirms that in the current second-hand market, essential unit types are still the main trading force and have stable appreciation space.