New property丨Wen Yao top-floor special unit sold for 80 million, setting two new records.

A renovation project under Kin Wing Properties called Man Yiu in Kowloon City has just recorded the sale of a distinctive top-floor large residence for RMB 80 million.

Zheng Zhiryong, Director of Investment and Sales at the Kin Wing Properties Group, said the unit is Flat A on the 30th floor, with a usable area of 2,183 sq ft, plus a 589 sq ft platform. It includes 4 bedrooms and 4 en-suite bathrooms with twin store rooms and a private-platform separation. The buyer purchased the unit for RMB 80 million, at a usable-area price of RMB 36,647 per sq ft, setting new highs for both the transaction price and the price per sq ft for units in the project.

It is understood that the new buyer is a family from the same district. Seeing that the property comes with luxurious interior decoration and that the project’s lobby and clubhouse have been refreshed, and since units with distinctive features are hard to come by, they decided to buy the home rather than rent it, making it convenient for their children to attend schools of note in the same district.

The transacted unit is located on the very top floor of the project, i.e., the entire floor. Only one unit is provided per floor, and it adopts a one-lift-one-occupancy design, allowing exclusive use of the lift lobby and offering very high privacy.

Zheng Zhiryong added that the project’s sales performance is ideal. Together with the above transaction, a total of 21 units have been sold so far this year. The entire project has cumulatively sold 83 units, cashing in over RMB 1.076 billion. The project currently has only 9 units left for sale, all three-bedroom units, with all of them measuring 904 sq ft, and there is room to further increase prices for the remaining inventory.

In addition, Yingju in Tai Kok Tsui, a project developed in collaboration with the Urban Renewal Authority, has also recorded a new transaction recently: Flat D on the 26th floor, with a usable area of 339 sq ft. The transaction price was RMB 7.5592 million, and the usable-area price was RMB 22,299 per sq ft. The project has cumulatively sold 107 units, cashing in approximately RMB 7.38 billion.