Article By Dimsumdaily Hong Kong – 11:07p.m. November 12, 2024 https://www.dimsumdaily.hk/laguna-city-flat-sold-for-hk4-5-million-reverting-to-prices-not-seen-in-over-a-decade/
12th November 2024 – (Hong Kong) A residential unit in Laguna City, located on Cha Kwo Ling Road, has been sold for a lot less than its listing price.
The property, a 517-square-foot apartment featuring two bedrooms, was initially put on the market for HK$5.1 million by an owner looking to emigrate. After a HK$600,000 price cut, the apartment sold for HKD 4.5 million, equating to a square foot price of approximately HK$8,704. This sale price represents a roughly 10% discount from current market rates.
Purchased in 2013, the flat has seen a nominal appreciation of just 2.7% over nearly a decade, marking a return to price levels not seen since more than eleven years ago. This modest gain, coupled with the reduced sale price, likely resulted in a net loss for the seller.
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