Investors make a decision in 1 minute! 13.6 million yuan to purchase a 3-bedroom apartment at Tsuen Wan CityLink

It is reported that the unit of this transaction is Room A, the lower floor of Two Towers in Quanchenghui, Tsuen Wan. This house is developed by Chinachem and located at 98 Dahe Road. It is the core area of Tsuen Wan. It is adjacent to the Tsuen Wan West Port Railway Station, surrounded by commercial supporting facilities such as Tsuen Xintiandi and Yangwu Road Market. The primary school network is 62 schools, and the secondary school network is Tsuen Wan District (NT2), with high living and transportation convenience. The practical area of the transaction unit is approximately 780 square feet, with three bedrooms and suites spaced apart. It can enjoy both sea and garden views at the same time, with a square layout and superior views, possessing strong residential and investment value. According to the intermediary, the unit was put up for sale for about HKD 14.3 million two months ago, and after negotiation, it was finally sold for HKD 13.6 million, equivalent to a practical unit price of about HKD 17436, slightly higher than the recent average transaction unit price of HKD 16864 at CityLink, reflecting the value resilience of high-quality units.

The most noteworthy aspect of this transaction is the difference in circumstances between the buyer and seller: as an investor in the area, the buyer, with familiarity with the value of the property, quickly made a decision to enter the market in just one minute, highlighting the decisive layout of high-quality second-hand properties by current investors; And the original owners are facing a situation of losing money and leaving. According to the transaction information, the original owner purchased the unit in 2017 for HKD 13.804 million and held it for about 9 years. The book loss from this transfer is approximately HKD 204000. If various fees incurred during the process of selling the property are added, including real estate agency commissions, lawyer fees, rent and related taxes, according to Hong Kong's second-hand property trading practices, the seller is required to pay a commission of about 1% of the property price and corresponding taxes. After comprehensive calculation, the actual loss of the original owner is about HKD 860000.

From the market background, this quick purchase case is not an isolated case. In recent times, the second-hand real estate market in Hong Kong has gradually rebounded. As a key sector for first-time buyers and investors, Tsuen Wan District saw a slight decline in housing prices in March (down 0.10% month on month), but the activity of high-quality housing transactions continued to increase. In the past 90 days, the transaction volume of CityLink reached 18 cases, with an average transaction price per square foot increasing by 4.67% year-on-year, demonstrating the market resilience of the sector. The reason why investors decisively entered the market is twofold: on the one hand, they value the supporting advantages and property preservation ability of the core area of Tsuen Wan; on the other hand, it is also due to the abundant bargaining space in the current second-hand market, where high-quality units have high investment cost-effectiveness. The retreat of the original owners reflects the willingness of some long-term holders to leave under market fluctuations. Holding the property for 9 years not only did not yield returns, but also faced significant losses, highlighting the uncertainty of real estate investment.