New Town City two-bedroom apartment appreciated 1.2 times in 32 years

Unit 01 on the low floor of Block R, Sun Kong City, Ma On Shan, with a usable area of 369 sq ft and a 2-bedroom layout. It was initially listed at about HK$5.18 million and changed hands at HK$4.85 million after negotiation, at a practical price of HK$13,144 per sq ft.

Centaline Property Agency said the new buyer is an end-user. Seeing that the unit’s layout suits their needs, and that the price is reasonable, they decided to move in and purchase the unit for self-use.

As learned, the original owner bought the unit in 1994 for HK$2.17 million and held it for about 32 years. In this transaction, they exited with a book profit of about HK$2.68 million, or 1.24 times.